“Microcredit, Microfinance, Nidhi Company & NBFC are banking the unbankables, bringing credit, savings and other essential financial services within the reach of millions of people who are too poor to be served by regular banks, in most cases because they are unable to offer sufficient collateral. In general, banks are for people with money, not for people without.” Microcredit belongs to the group of financial service innovations under the term of microfinance, other services according to microfinance is microsavings, microloans, micro vehicle finance and small housing loan.