Grameen Credit Score

PRELIMS BITS: 

• Objective: To formalize self-help group (SHG) transactions within India’s credit system, allowing better financial assessment.
• Benefits:
  • Financial Inclusion: Improves access to financial services for rural women entrepreneurs.
  • Credit Cards for Micro-enterprises: Customized credit products, with limits up to ₹5 lakh.
  • Improved Credit Assessment: Digital framework for assessing creditworthiness.
  • Economic Impact: Promotes economic stability in rural areas.
• FAQs: Includes definitions of SHGs, credit score, and financial inclusion.