how will it affect people in india who have taken loans from the non-formal sources of credit?
Answers
Answered by
2
Answer:
It says formal institutions show reluctance to lend to such farmers. ... farm loan-waiver scheme would no doubt help reduce farmers' debt, ... This in turn would force farmers to shift to informal sources of credit. ... “Consequently, loan waivers can have a dampening impact on rural credit institutions,” it add
Answered by
1
(a) Informal sources of credit are moneylenders, traders, employers, relatives, friends etc. (b) There is no government or private organisation that manages or check the credit activities performed by informal sources.
Similar questions