The occupational credit disbursement of commercial banks for occupational activities has brought the multi-dimensional opportunities for rural development according to the RBI guidelines in the country. However, the trend of credit disbursement especially for small and microenterprises is not at satisfactory level when the development of microenterprises according to credit disbursement has been viewed, the number of credit account holders of small and microenterprises showed a drastic change during the study period, indicating more credit disbursement has been taken place for other occupational activities rather than the small and microenterprises, though this sector is the main back bone for rural economy and it has surmised a disguised rural economic development in the country. The development of microenterprises especially in the rural areas of North Eastern Region and in Meghalaya drastically has gone down during the period from 1996 to 2006. The number of microenterprises in the rural areas according to occupational credit provided by the commercial banks has reduced due to insufficient supply of rural credit. As a main objective of this paper that is to analyze and to identify the microcredit scenario which have been taken by the micro entrepreneurs for carrying their micro businesses with a view to develop occupational activities and the rural economy as a whole has not shown a positive significant development during the ten years of study period. The microcredit as provided by the commercial banks is lacking behind though there is a high demand of such credit in the region as well as in the state of Meghalaya