Question

Explain the importance of formal sector loans in India​

Answer 1

Explanation:

• The Reserve Bank Of India is responsible for the formal sector loans in India.
• They are beneficial for low scale workers and businessmen who need financial assistance.
• The corporate sectors such banks should come up easing facilities so that the workers like farmers can get advantage off of it.
• The unavailability of assets is usually a hurdle to get loans. This must be tarnished and interest rates must be lower.
• The economy is positively effected if people are given more business loans. They will be eventually added in the GDP of the country.

Answer 2

Answer:

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