“Most of the Poor households still depend on the informal sector for loans, both in rural and urban areas of India.” Support the statement with three examples. {3 (3×1) Marks}
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Answered by
55
1)formal sector need proper document but informal sector do not document for giving loan.
2)Informal sectors are large in number.
3) Informal sector do not follow government rules.So poor people can take loan easily rather than taking loan from formal sector.
2)Informal sectors are large in number.
3) Informal sector do not follow government rules.So poor people can take loan easily rather than taking loan from formal sector.
Answered by
33
example1:
most of them involve in construction activities and they don't get enough wages and take loans from bank
example2:
some of them in rural areas the farmers land is squeezed by the land lords... so this leads to food crisis and they may take loan from bank
example3:
even they know that moneylender orders for high interest they borrow money from moneylenders itself.. because they don't have any proper assurance to submit in bank
plse mark it as brainliest
most of them involve in construction activities and they don't get enough wages and take loans from bank
example2:
some of them in rural areas the farmers land is squeezed by the land lords... so this leads to food crisis and they may take loan from bank
example3:
even they know that moneylender orders for high interest they borrow money from moneylenders itself.. because they don't have any proper assurance to submit in bank
plse mark it as brainliest
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