Social Sciences, asked by childpedagogy, 1 year ago

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

Answers

Answered by shiva139
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.
Answered by pranzal2
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.
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