Question

Why do poor households in india still depend on informal sources of credit?

Answer 1

Answer:

Banks are not present everywhere in rural India. from informal sources. ... Absence of collateral is one of the major reasons which prevents the poor from getting bank loans. Informal lenders like moneylenders know the borrower personally and hence, are often willing to give a loan without a collateral

Answer 2

Answer:

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Banks are not present everywhere in rural India. from informal sources. ... Absence of collateral is one of the major reasons which prevents the poor from getting bank loans. Informal lenders like moneylenders know the borrower personally and hence, are often willing to give a loan without a collateral....

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