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Question
Answer the following question.
Give any two examples of the informal sector of credit.
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Solution
Money-lenders and landlords
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RELATED QUESTIONS
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.
Majority of the credit needs of the _________ households are met from informal sources.
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 |
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|
A person employed in government service |
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|
Migrant labourer in Delhi |
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Household maid |
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Small trader |
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Autorickshaw driver |
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A worker whose factory has closed down |
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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?
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