Question

why do banks and cooperative society need to land more. explain​

Answer 1

Answer:

Banks and cooperative societies need to lend more.

i. This would lead to higher incomes 

ii. People could borrow cheaply for a variety of needs. 

iii. They could grow cropsand set up small-scale industries etc. 

iv. Cheap and affordable credit is crucial for the country’s development 

v. To save and reduce the dependence on informal sources of credit  vi. It is important that the formal credit is distributed more equally so that the poor can benefit from the cheaper loans

Answer 2

hope it helps you

➨ It is necessary for the banks and cooperative society to increase their lending facilities in rural areas because the money lender who lend money are charging a large amount of interest on the loan and it was very difficult for the rural people to pay the interest.