Question

what are the various purposes for which the rural people
require
credit ?what are the sources from
which day avail it?
people​

Answer 1

Explanation:

(ii) Cheap and easily available credit can encourage self employment like small scale industries or business. It can lead to higher income and contribute to the country's development. (b) Rural poors can get cheap loans from sources like cooperatives banks, Self Help Groups, regional rural banks, etc..

Answer 2

Answer:

Credit means recieving something of value now and promising it to repay later.

Due to the following reasons:-

(i) The expansion of formal sources of rural credit is essential to save poor from the high rate of interest of moneylenders and debt-trap.

(ii) Cheap and easily available credit can encourage self employment like small scale industries or business. It can lead to higher income and contribute to the country’s development.

(b) Rural poors can get cheap loans from sources like cooperatives banks, Self Help Groups, regional rural banks, etc..

Sources Of Financing Business

Best Common Sources of Financing Your Business or Startup are:

Personal Investment or Personal Savings

Venture Capital

Business Angels

Assistant of Government

Commercial Bank Loans and Overdraft

Financial Bootstrapping

Buyouts