Why do the poor households rely on informal credit till today? Explain.
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Answered by
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Poor households rely on informal credit because they don't have collateral which they can deposit in bank to get loans whereas informal source of credit such as moneylender know them personally and give them loan without any collateral.
Hope this answer help u.
Hope this answer help u.
Anonymous:
wlcm
my pleasure :-) :-) :-)
Answered by
7
Answer:
Explanation:
Poor households rely on informal credit because they don't have collateral which they can deposit in bank to get loans whereas informal source of credit such as moneylender know them personally and give them loan without any collateral.
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