Question

how can the formal source loan be made be benefical for poor farmers

Answer 1

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.

Answer 2

benefical spelling is wrong

Answer: Formal sector loans can bemade beneficial for poor farmers and workers in the following ways: It is required to create awareness amongfarmers about formal sector loans. ... Banks and cooperatives shouldincrease facility of providing loans so that dependence on informal sourcesof credit reduces.