”Poor households still depend on informal sources of credit." what steps can be taken to encourage them to take loan from the formal sector
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*Rate of interest must be low.
*More and more formal sector of credit like banks and co-operatives must be set up.
*Documentation also must be lower. So that more people would take loans easily.
Hope it helps you:)
*More and more formal sector of credit like banks and co-operatives must be set up.
*Documentation also must be lower. So that more people would take loans easily.
Hope it helps you:)
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