Question

Giving an example, show how credit can play a positive and vital ro
redit can play a positive and vital role in the life of a
borrower. pls ans it fast​

Answer 1

Lets take an example of a women working hard in her farm she was ready for her hardwork results,but infortunately hailstrom occurs and destroys all her crops. Now she has no money because she has invested it in fertilisers, seeds, etc . here if she takes a loan from formal source, it would be much helpful for her. hence the credit plays a vital role in the development.