Question

how can how can the formal sector loans be made beneficial for Poor farmers and workers.
suggest any five measures

Answer 1

Formal sector loans made beneficial for poor farmers and workers because -
1)- they pay low interest on loans but in informal sector they have to pay high interest.
2)- they have collateral asset nd instead of they get high loans.
3)- in formal sector they have chance to expand their business...
For ex- if any industrialist want to buy raw material for making goods then he take loans and when he sell his product then he earn some profit and return loan nd some profit also earn by him... Nd he get some benefit from formal sector