how can formal sector loans be made beneficial for poor farmers and workers? suggest any 5 measures
Answers
Answered by
604
In the formal loan providers banks and cooperates are included.
poor people and farmers seek loans from the informal sectors, which exploit them and charge high interest rate.
Thus by taking loans form formal institutes the benefits are:
1. The formal sector lend more to poor people and worker.
2.It provide cheap and affordable credit.
3. It ensure that every one receives loans.
4. It provide guidance and help
5. There are more formal institutes
poor people and farmers seek loans from the informal sectors, which exploit them and charge high interest rate.
Thus by taking loans form formal institutes the benefits are:
1. The formal sector lend more to poor people and worker.
2.It provide cheap and affordable credit.
3. It ensure that every one receives loans.
4. It provide guidance and help
5. There are more formal institutes
Answered by
219
Heya,,,,
Formal sector loans to the farmers and workers given by banks and govt institutions such as NABARD......
These loans are beneficial for them in terms of.....
** These loans are given at low interest rate that can cover up by farmers in place of high rated loans by landlords that creates a huge burden....
** These loans have securance to be a governmental signed loans so no cheating can be possible ....
** These loans gives the credit security when there is need to get it....
** With the loans farmers also get the knowledge and awareness about modern farm techniques....
** Farmers gets authorized time to return the loans no extra tension are there...
Formal sector loans to the farmers and workers given by banks and govt institutions such as NABARD......
These loans are beneficial for them in terms of.....
** These loans are given at low interest rate that can cover up by farmers in place of high rated loans by landlords that creates a huge burden....
** These loans have securance to be a governmental signed loans so no cheating can be possible ....
** These loans gives the credit security when there is need to get it....
** With the loans farmers also get the knowledge and awareness about modern farm techniques....
** Farmers gets authorized time to return the loans no extra tension are there...
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