Question

why do banks and cooperative societies need to lend more? Explain​

Answer 1

ʜᴇʏ..!!

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.

ᴛʜᴀɴᴋ ʏᴏᴜ

Answer 2

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.