Political Science, asked by deepanshubhatra, 2 months ago

what is the most essential requirement for taking loan from informal services​

Answers

Answered by sanjiv0510
3

Answer:

The poor people and land less people have no collateral. This prevents them to take loan from formal sources of credit. Banks first ask for the collateral than they issue loans to the people. So due to the above reason collateral is the most important term of credit.

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