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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.
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.
How do banks mediate between those who have surplus money and those who need money?
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.
“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.
