credit played a positive role in salim's life .on similar lines ,find out how credit has played a constructive role in the lives of people around you-your family ,relatives,etc...
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Answer:
if you asked the question from any chapter so you have must have to mention it
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credit plays a crucial role in a country's development. By sanctioning loans to developing industries and trades, banks provide them with the necessary aid for improvement.
this leads to increase in the production, profits and employment. however, caution must be exercised in the case of loans from the informal sector which include high interest rates that may be more harmful than good.
for this reason, it is important that the formal sector gives out more loan so that borrowers are not duped by money lenders, and can ultimately contribute to National Development.
for example- a lone given to a fresh post- graduate for setting up a business might contribute to Employment generation, infrastructure development in the near future.