Question

why do banks and cooperation societies need to lend more explain​

Answer 1

Answer:

Most loans from informal lenders carry a very high interest rate and do little to increase the income of the borrowers. Thus, it is necessary that banks and cooperatives increase their lending particularly in the rural areas, so that the dependence on informal sources of credit reduces.

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Answer 2

Explanation:

IT is necessary that banks and cooperatives increase their lending so that, the dependence on informal sources of credit reduces. Only the banks and cooperative societies can provide loans at cheap rate which can easily save poor from the catches of the money lenders

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