Question

formal and informal credit :who gets what? formal sector credit in India. self help groups for the poor .terms of credit. loan activities of banks. modern forms of money. currency and deposits with banks. variety of credit arrangement. loans from cooperatives.... explain all for project

Answer 1

Answer: Only 10 per cent of their loans are from informal sources while 90 per cent from formal sources . A similar pattern is also found in rural areas. The rich households are availing cheap credit from formal lenders whereas the poor households have to pay a heavy price for borrowing.

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