25- Write about the different credit arrangements for different categories of borrowers in a village.
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A wide variety of credit arrangements is there which includes credit cards, overdraft facilities, purchase agreements, and personal loans.
Explanation:
- A credit card is an easier arrangement that allows us to borrow money from our banks which issues the same to purchase goods.
- Bank loans are another type of credit that is the safest mode against property and it pays in limited time.
- Overdrafts help in ensuring safety to cover short arrears helps to compensate for temporary lack of cash.
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Answer:
A wide variety of credit arrangements is there which includes credit cards, overdraft facilities, purchase agreements, and personal loans.
Explanation:
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