why do most people in rural areas still take loan from informal src.? plz ans it as fast as u can
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Answered by
2
1)bank are not present everywhere
2)collateral is required
3)documentation requirements are higher
4)process is lengthy and time consuming
2)collateral is required
3)documentation requirements are higher
4)process is lengthy and time consuming
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Answered by
1
because in order to go for formal sector
1 they cannot provide collateral
2 banks do not agree to give loans to these people
3 it is a lengthy process
4 the require documents which they do not have
5 most of them do not know about formal sources
1 they cannot provide collateral
2 banks do not agree to give loans to these people
3 it is a lengthy process
4 the require documents which they do not have
5 most of them do not know about formal sources
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