Only the difference is that the Feudal moneylenders needed Collateral of Corps field, but the modern micro- credit institutes don’t bother for Collateral. In all other context Micro-credit is similar to Feudal moneylenders. From lending process to recovery all are same like Brower –Lender relation, interest rate, recovery system Punishment clause in all aspect. There is nobody finds it as an exciting piece of historical information.
It is quite okay that Micro-credit practice has created money flow and employment opportunity simultaneously it has quite criminalized the Economy. Micro--credit practice also breakdown the local custom and culture. They are patronizing gender inequality, illiteracy, environmental pollution, radicalism and the process of becoming landless. All this back draws make the way of exploiting wider for them. For long practice of micro-credit inequality and injustice increase in the society. Poor people don’t get any way to protest against the exploitation. So society gets a new dimension of migrating trend among its people and religious terrorism.
To avoid the misunderstanding and confusion in the discussion about micro--credit, it is social aspect, exploitation in the name of development and it is long run impacts on the economy, we have to analyze the complete Micro--credit system, how it works and what is potentiality.
Micro--credit practice has a common approach: to provide Banking Facilities to the poor people; to save the people from the exploitation or feudal moneylenders; to create self--employment opportunity; to eliminate poverty; to create social security for the landless poor people.
Grameen Bank of Bangladesh is the pioneer of modern micro--credit practice. It has achieved both national and international reorganization for it is brilliant success in micro--credit practice.
