Question

Q)Why do we need to expand formal sources of credit in India?​

Answer 1

Answer:

Thus, it is necessary that banks and cooperatives increase their lending particularly in the rural areas, so that the dependence of the poor on informal sources of credit reduces. ... It is important that the formal credit is distributed more equally so that the poor can benefit from the cheaper loans.

Answer 2

Answer:

Thus, it is necessary that banks and cooperatives increase their lending particularly in the rural areas, so that the dependence of the poor on informal sources of credit reduces. ... It is important that the formal credit is distributed more equally so that the poor can benefit from the cheaper loans.

Explanation:

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