Social Sciences, asked by yyash0910, 6 months ago

What are the problems in extending formal sector credit in India?

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Answered by Anonymous

3

There is need to expand formal sources of credit in India as: (i)This would lead to higher incomes and many people could then borrow cheaply for a variety of needs. (ii)They could grow crops, do business, set up small-scale industries etc. (iii)They could set up new industries or trade in goods.

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