Question

Mohan works at a construction site in a sub –urban area while Sudhir is a marketing manager in a company. Both want credit to buy a home. Create a list of arguments explaining who has more possibility of getting a home loan from the Formal sector.​

Answer 1

Answer:

Mohan works at a construction site in a sub –urban area while Sudhir is a marketing manager in a company. Both want credit to buy a home. Create a list of arguments explaining who has more possibility of getting a home loan from the Formal sector.​

Explanation:

Answer 2

In that case, Sudhir has more possibility of getting a loan to buy his home from formal sectors.Due to the following arguments:

• Usually, the formal sector consists of banks and institutes which are supervised by RBI. The formal sector also requires proper collateral and documentation. Among Sudhir and Mohan Sudhir can show all his records, payment slip and can assure the bank about his loan.
• Sudhir has a good source of income, which is regular as well. That's why Sudhir can provide collateral security with his consistency and his position in the company.