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प्रश्न
Compare formal sector loans with informal sector of loans regarding interest only.
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उत्तर
Formal sector loans can be taken at low rate of interest. On the other hand, informal sector loans are available at high interest rate.
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संबंधित प्रश्न
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?
______ costs of borrowing increase the debt-burden.
The following table shows people in a variety of occupations in urban areas. What are the purposes for which the following people might need loans? Fill in the column.
| Occupations | Reason for needing a Loan |
| Construction worker | |
| Graduate student who is computer literate | |
| A person employed in government service | |
| Migrant labourer in Delhi | |
| Household maid | |
| Small trader | |
| Autorickshaw driver | |
| A worker whose factory has closed down |
Next, classify the people into two groups based on whom you think might get a bank loan and those who might not. What is the criterion that you have used for classification?
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.
Answer the following question.
Describe the importance of formal sources of credit in economic development.
Explain any three reasons for the banks and cooperative societies to increase their lending facilities in rural areas.
Answer the following question.
Give any two examples of the informal sector of credit.
Answer the following question.
Why is cheap and affordable credit important for the country's development? Explain any three reasons.
