4. Why are most of the people not benefitted by formal loan?
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i thing because ham
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In general, formal financial services are not available to poor people because of the high interest rates, collateral requirements, complicated application procedures, and long admissions processing. As they have disadvantages like high interest rates , collateral requirement etc. . Many people avoid using this type of loan as a result pf which only a few who can meet the requirement can apply for it benefitting only them .
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