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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
Explain with an example, how credit plays a vital and positive role for development.
Compare formal sector loans with informal sector of loans regarding interest only.
Which one of the following is a formal source of credit?
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.
Answer the following question.
Describe the importance of formal sources of credit in economic development.
Answer the following question.
Describe the bad effects of informal sources of credit on borrowers.
Answer the following question.
Why is cheap and affordable credit important for the country's development? Explain any three reasons.
