Mohan wants to open a dairy. His father advised him to take credit from Grameen Vikas Bank instead of a money lender. Is he right ? What values are exhibited by Mohan father?
(Class 10 SSt Sample Question Paper)
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Yes, Mohan father is right to advise him of taking credit from Gramin Bank instead of a money lender because banks are formal sector of credit that charge low rate of interest on loans as compared to money lenders.
The values exhibited by Mohan’s father are as follows:
1.Knowing about advantages of Banking.
2. Awareness of the formal sources of credit like Bank and co-operatives.
3. Showing responsibility and giving good advice to young people of his village/town.
HOPE THIS WILL HELP YOU....
Yes, Mohan father is right to advise him of taking credit from Gramin Bank instead of a money lender because banks are formal sector of credit that charge low rate of interest on loans as compared to money lenders.
The values exhibited by Mohan’s father are as follows:
1.Knowing about advantages of Banking.
2. Awareness of the formal sources of credit like Bank and co-operatives.
3. Showing responsibility and giving good advice to young people of his village/town.
HOPE THIS WILL HELP YOU....
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