Question

"cheap and affordable credit is crucial for yhe countries development" justify with example..

Answer 1

cheap and affordable credit will help in the upliftment of poor .using that they can set up new buisness and earn a living this will also raise the income of country.. only developed citizen can make developed nation

Answer 2

it is important for the development of country as when banks give loans to rural area people at low interest people get more motivated to take loan from bank as it provide low interest than the moneylenders in their villages

banks give interest to the people who deposit their money in bank as security deposit

therefore when both rural and urban areas of the country is progressing there will be development in india