Question

explain with example how credit play a vital role and positive role for development

Answer 1

Credit plays a significant role in development, for most of the businesses, credit becomes essential for expansion at some time or the other. Without the credit, a small company cannot grow to become a bigger company. Farmers cannot go for large scale farming in the absence of credit facilities.

Answer 2

$\bf{credit{ \implies}loan \: from \: bamks \: etc}$


Yes, credit plays an important role in the healthy growth of any business .

1) To set up any business, it is necessary to make investment, credit helps the businessman in doing so.


2) The farmers need credit for the large scale production. This would help them have more produce and earn more .


3) People need credit to expand their production unit.

4) Sometimes people take credit for building house, buying cars, etc.

5) Thus credit plays an important or vital role in the lives of people.