how can the formal sector loans be made beneficial for poor farmers and workers? suggest any five measures.
Answers
Answered by
3
Benefits of fomal sector loan for poor people:-
Formal sector loan required all formal document. By formal sector loan Farmers and workers can take loan with minimum or sufficient interest.
Formal sector loan required all formal document. By formal sector loan Farmers and workers can take loan with minimum or sufficient interest.
Answered by
4
Formal sector loans can be beneficial to poor farmers and workers in many ways such as :
1. Formal sector loans are cheaper than informal sector loans.
2. It provides credit at cheap interest.
3. Also banks started Self Helping Group ( S.H.G ) banks .
4. Taking loans from banks is safe and efficient.
5. Informal sector people sometimes reject for giving loans whereas formal sector never reject and never has lack of money.
1. Formal sector loans are cheaper than informal sector loans.
2. It provides credit at cheap interest.
3. Also banks started Self Helping Group ( S.H.G ) banks .
4. Taking loans from banks is safe and efficient.
5. Informal sector people sometimes reject for giving loans whereas formal sector never reject and never has lack of money.
Similar questions