Microfinance, also called microcredit, is a type of banking service provided to low-income individuals or groups who otherwise wouldn’t have access to financial services.
While institutions participating in microfinance most often provide lending—microloans can range from as small as RS 5000 to under RS 700,000. But many banks offer additional services such as checking and savings accounts as well as micro-insurance products, and some even offer financial and business education. The goal of microfinance is to ultimately give impoverished people an opportunity to become self-sufficient.
Financial institution
Aarambha Chautari Laghubitta Bittiya Sanstha Ltd., Banepa -10, Kavreplanchowk, Araniko Highway, जनागाल ठाडोबाटो 45210, Nepal
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