Question

How can the formal sector Loans be made beneficial for the poor farmers and workers?
Suggest any five measures.

Answer 1

Hey mate this is your answer

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Formal sector loans can be made beneficial for poor farmers and workers in the following ways:

↪It is required to create awareness among farmers about formal sector loans. ↪Process of providing loans should be made easier.It should be simple, fast and timely. ↪More number of Nationalised banks/comparative bank is should be agreed in rural sector. ↪Banks and cooperatives should increase facility of providing loans so that dependence on informal sources of credit reduces. ↪The benefits of loans should be extended to poor farmer and small scale Industries. ↪While formal sector loans need to expand, it is also necessary that everyone receives these loans.

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Answer 2

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1. Make attention to farmers about conventional part credits.

2. Procedure of giving credits ought to be made simpler.

3. It ought to be basic, quick and opportune.

4. Increasingly number of nationalized banks/agreeable banks ought to be opened in country area.

5. Banks and cooperatives should build office of giving advances with the goal that reliance on casual wellsprings of credit decreases.

6. The advantages of advances ought to be stretched out to helpless farmers and little scope businesses.

7. While formal area credits need to grow it is additionally fundamental that everybody gets these advances.