Question

analyse the role of credit for development.​

Answer 1

Credit plays a crucial role in a country's development. By sanctioning loans to developing industries and trade, banks provide them with the necessary aid for improvement. This leads to increased production, employment and profits. ... (iii) Credit helped in the development of secondary sector or manufacturing sector.

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Answer 2

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Explanation:

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.