Question

chrap and affordable credit is essential for poor households both in rural and urban areas.Justify.

Answer 1

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Cheap and affordable credit is essential for Poor households in rural areas because it helps the poor farmers or poor people living there to get loans and then they can invest in either farming or non farm activities. the cheap word tells that the interest rate would be low so at the end they have to pay less money.


cheap and affordable credit is essential for Poor households in urban areas because it helps the poor people living in urban areas to invest in any manufacturing or any small business which can give them a good return. due to this good return they can pay back the credit with interest and can have a good and settled life....



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Answer 2

The economic value attached to cheap and affordable credit is that it help the poor in rural and urban households to start self employment ventures and continue economic activities. This helps in increasing their income earning capacity and increases their living standard. The social aspect attached to affordable credit to poor is that it helps in reducing their dependence on informal sources of credit.


The economic value attached to cheap and affordable credit is that it helps the poor in rural and urban households to start self-employment ventures and continue economic activities. This helps in increasing their income earning capacity and increases their living standard. The social aspect attached to affordable credit to poor is that it helps in reducing their dependence on informal sources of credit.