most of the credit needs of the poor households are met from informal sources.The dependence of richer households on informal credit is less.do you agree?use the data given in page 114 to support your answer
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Yes.As poor people do not have proper documentation and other collateral
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Explanation:
Majority of the credit needs of poor households are met from informal sources.
Poor households often get exploited with higher interest from money lenders.
Poor households borrow money from money lenders because they don't have any form of security (collateral) as requested by the formal sources of credit.
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