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प्रश्न
Majority of the credit needs of the ______ households are met from informal sources.
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उत्तर
Majority of the credit needs of the poor households are met from informal sources.
Explanation:
Poor households lack the assets and formal documents that commercial banks require as collateral for loans. As a result, they are compelled to rely on local moneylenders and landlords who give rapid cash based on personal relationships while charging exploitatively high interest rates.
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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 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?
How can the problem of unemployment be eradicated in India? Explain any three ways.
“Credit can play a negative role.” Justify the statement with arguments.
Answer the following question.
Describe the bad effects of informal sources of credit on borrowers.
Explain the importance of formal sector loans in India.
Explain any three reasons for the banks and cooperative societies to increase their lending facilities in rural areas.
