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Q. Analyse the role of credit for development.(5m)
PLEASE ANSWER IT IN 100-120 WORDS (IN POINTS)..
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Answered by
2
HEYA MATE....
HERE IS YOUR ANSWER...
Cheap and affordable credits play a crucial role for the development of a country.
There is a huge demand for loans for various economic development activities.
This credit helps people to meet the ongoing expansesof production and there by develop their business.
In this way credit plays an important role in development.
HOPE IT HELPS...
HERE IS YOUR ANSWER...
Cheap and affordable credits play a crucial role for the development of a country.
There is a huge demand for loans for various economic development activities.
This credit helps people to meet the ongoing expansesof production and there by develop their business.
In this way credit plays an important role in development.
HOPE IT HELPS...
Answered by
1
Development is sustained by a proper credit policy. By giving loans to agriculture, industry and trade, banks provide them with the necessary funds for carrying on their business without problems relating to finance.
This results in increased production and services, more employment and profits.
Or
Development is sustained by a proper credit policy. By giving loans to industries and trade, banks provide them with the necessary funds for carrying on their business without problems. This results in increased production and services, more employment and also profits. Caution is employed by the lenders when high risks are expected, so that there are no losses. Credit from the formal sector needs to be increased as loans from the informal sector, which have very high interest rates, do more harm than good. For this reason, it is important that the formal sector gives out more loans so that borrowers are not exploited by informal sector moneylenders, and the results definitely will contribute to national development.
This results in increased production and services, more employment and profits.
Or
Development is sustained by a proper credit policy. By giving loans to industries and trade, banks provide them with the necessary funds for carrying on their business without problems. This results in increased production and services, more employment and also profits. Caution is employed by the lenders when high risks are expected, so that there are no losses. Credit from the formal sector needs to be increased as loans from the informal sector, which have very high interest rates, do more harm than good. For this reason, it is important that the formal sector gives out more loans so that borrowers are not exploited by informal sector moneylenders, and the results definitely will contribute to national development.
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