Question

Suggest two measures for improving the share of formal sector in total credit.

Answer 1

* illiterate people should be awared about formal sectors.
* formal sectors should bring up good policies to attract people

Answer 2

Answer:

The measures can be

(i) The rural people having similar occupations can be asked to organise themselves into Self Help Groups, which will uldmately enable them to get loans from the formal sector.

(ii) More bank branches should be opened in rural areas which should assist borrowers in completing the documentation required for loans, as many rural people are unable to fulfil this essential requirement of the formal sector.

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Regards

Dhruv Dheeraj ;)