"Most of the poor households are still dependent on informal sources of credit" Why ? Do you see the ineffectiveness of Indian banking system in this situation?
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Answered by
21
Yes Most of the poor household are still dependent on informal source of credit because for taking loans they have to give many proofs to the bank which seems to be too hard for those poors and hence they have to take loans from other source. Ues it shows ineffectiveness of Indian banking system .
Answered by
10
Lack of knowledge about Banking Structure & facility provided & the complex formalities & documentation required to be done at Banks lead them to get dependant upon informal sources of credit.
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