Question

Ruchita is a government employee and belong to a rich urban household whereas Damini works as a helper on a construction site and comes from poor rural household. Both have a crisis at home and wish to take a loan. Create a list of arguments explaining who between the two would successfully be able to get the loan from a formal source. Why?


Pls ans fast!!!!!!

Answer 1

Ruchita would get the loan faster from the the formal source of credit because:
- she had a govt job
- she can put her papers of job as collateral

whereas damini would not get the loan because she do not has the collateral to give to the bank

banks ask for collateral while giving loans to people