How can the formal sector loans be made beneficial for poor farmers and workers? Suggest any five measure?
Answers
Answered by
21
formal sectors of loans can be made beneficial for poor farmers and workers by the following ways-
1.by providing them loans at low interest rates
2. by reducing the amount of documentation requirements
3. by taking minimum collaterals
4. by providing them loans for their respective jobs
5. by not pushing them into debt trap
hope it helps
1.by providing them loans at low interest rates
2. by reducing the amount of documentation requirements
3. by taking minimum collaterals
4. by providing them loans for their respective jobs
5. by not pushing them into debt trap
hope it helps
Answered by
7
Formal sector loans can be made beneficial for poor farmers and workers in the following ways:
1.Create awareness to farmers about formal sector loans.
2.Process of providing loans should be made easier.
3.It should be simple, fast and timely.
4.More number of Nationalized Banks and cooperatives should be opened.
5. Banks and cooperatives should increase facility of providing loans so their dependence on informal sector reduces.
1.Create awareness to farmers about formal sector loans.
2.Process of providing loans should be made easier.
3.It should be simple, fast and timely.
4.More number of Nationalized Banks and cooperatives should be opened.
5. Banks and cooperatives should increase facility of providing loans so their dependence on informal sector reduces.
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