Question

contribution of commercial banks as a source of credit for rural households in India in 2003 was



anyone please say the correct answer​

Answer 1

Answer:

THE CONTRIBUTION MADE BY COMMERICAL BANKS AS A SOURCE OF CREDIT ARE

It helps in increasing economic activities of the borrowers.

If credit is made available to the poor people on reasonable terms and conditions, they can improve their economic condition. This will help in the over all development.

Credit may increase the activities in the secondary sector e., manufacturing sector. Thus, with credit people could grow crops, do business, set up small-scale industries. They could set up new industries or trade in goods. Therefore, credit is crucial for the country’s development.