Question

how can the formal sector loan be made beneficial for poor farmers and workers suggest any five measures​

Answer 1

Answer:

I have to go get the car and I will be there at a time and then I will be able to make it to the meeting tonight

Answer 2

Explanation:

Formal sector loans are given by banks and cooperative. This sector charges low interest on

credit extended but still poor farmers and workers do not approach this sector because it

required proper documentation and provision of

collateral for the purpose of extending credit.

S0, the measure to make the formal loan beneficial for poor farmers and workers are as follows:

1)The formal sector should ensure that everyone

receives loans

2)It should ensure Self-Help groups and Bank linkage.

3)There should be more no.of cooperative and

banks in rural areas.

4) Statutory requirement should be reduced.

5) The need of collateral should be scrapped.