Economy, asked by abhishekwifi403, 1 year ago

banks generally do not provide loans to few poor people. Why? (3 marks)

RifaBorbora: good question

Anonymous: I think bcoz sometimes they r unable to repay the loan on a fixed time....

Answers

Answered by Anonymous

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●This is because banks increases their Interest rates in Loans.

●People who have low wages could not able to afford loans at that interest.

●Hence it becomes main reason for "Banks Do Not Provide Loans to Poor People"

Answered by rajldh

Answer:

Explanation:bcze poor people have lack documentation and may be they are not unable of repaid loan to bank and donot have collateral. So, SHG group are formed to give loans to poor people with low rate of interest and no demand of collateral

I HOPE THIS WILL HELP U

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