Question

Analyse the role of credit for development.​

Answer 1

Answer:

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.

Answer 2

Explanation:

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(i) It helps in increasing economic activities of the country; thus, helps in its development

(ii) If credit is made available to the poor people at reasonable rates, they can improve their economic condition.

(iii) Credit helped in the development of secondary sector or manufacturing sector.