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प्रश्न
Explain the importance of formal sector loans in India.
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उत्तर
Formal sector of credit refers to the loans taken from banks and cooperative societies. Forma sector charges reasonable rate of interests, seeks repayment within a stipulated time with a degree of flexibility with proper documentation.
संबंधित प्रश्न
Which one of the following is a formal source of credit?
Why is it necessary for the banks and cooperative societies to increase their lending facilities in rural areas? Explain.
Why do we need to expand formal sources of credit in India?
Majority of the credit needs of the ______ households are met from informal sources.
______ costs of borrowing increase the debt-burden.
How can the problem of unemployment be eradicated in India? Explain any three ways.
“Credit can play a positive role.” Justify the statement with arguments.
“Credit can play a negative role.” Justify the statement with arguments.
Answer the following question.
Describe the importance of formal sources of credit in economic development.
Answer the following question.
Give any two examples of the informal sector of credit.
