Question

mention the reason of rural poor people still generally take loan from informal sources credit??​

Answer 1

Answer:

Poor people in rural areas are still dependent on informal credit sources such as the moneylenders who charge an exorbitant rate of interest on the given loans. It is because banks are not present in far-off villages in rural India. Further, taking a loan from a bank is much difficult due to extensive paper work

Explanation:

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