Question

should there be a supervisor such as the reserve Bank of india that looks into the loan activities of informal lenders? why its task be quite difficult​

Answer 1

Answer:

Yes,in order so as to save poor farmers and people in the rural areas from getting over exploited by this informal money lenders.This would portray a difficult task due to a lot of people mostly depends on this money lenders and hence regulating the activities of these money lenders is not so easy.Banks should therefore decrease the collateral for such poor people so that they can also be capable of enjoying the loans as it will promote the development of the nation.

Answer 2

Explanation:

GOOD EVENING MATE ,

RESERVE BANK OF INDIA SUPERVISES FORMAL SECTOR OF LOANS SUCH AS BANKS ETC.

THERE IS NO ORGANIZATION WHICH SUPERVISES INFORMAL LENDERS .

FORMAL SECTOR WANTS COLLATERAL AND DOCUMENTATION WHICH ARE NOT AVAILABLE TO ILLITERATE PEOPLE .

AND INFORMAL LENDERS ARE NOT ASKING FOR ANYTHING AND THEIR INTERESTS IS HIGH .

SO IT IS DIFFICULT IN. THIS WAY FOR POOR PEOPLE TO GET LOANS FROM FORMAL SECTOR.

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