What are the different sources of credit ? Why do the rural poor depend on informal sources
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1
the two sources of credits are informal credit and formal credit
the poor depends on informal sources because if the person is farmer then they didn't have legal document of their farm
bank will not accept the loan without proper document ,that's why poor people have to depend on informal sources of credit .
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2
four main source of credit are
1. money lenders
2.commercial banks
3.co-operative socities
4. self help group
rural poor depend on informal source of credit because bank wants borrower to have any collateral
they avail proper documents
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