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Why should credit at reasonable rates be available for all?

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Question

Why should credit at reasonable rates be available for all?

Short Answer
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Solution

Credit at affordable rates should be available to everyone because it allows poor borrowers to obtain loans with reduced interest rates. It enables individuals to progress, raise their revenue, and protect themselves from the clutches of local money lenders. As a result, we can conclude that accessible credit at affordable rates supports financial stability, economic progress, and personal empowerment.

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Chapter 3: Money and Credit - Intext Questions [Page 50]

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NCERT Social Science Understanding Economic Development [English] Class 10
Chapter 3 Money and Credit
Intext Questions | Q 2. | Page 50
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