Question

why do we expand formal sources by credit in india?..​

Answer 1

Answer:

We need to expand formal sources by credit in India To reduce the higher risk associated with informal sources of credit because of fluctuating terms and conditions. To avail cheaper credit to farmers in rural areas.

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Answer 2

Answer:

we need to expand formal sources by credit in india bcoz informal sources exploit poor people by charging higher rate of interes There are no governing bodies to check their work. Moreover, by expansion of these formal sources, indian economy would improve and many will get employment in banks and cooperative sectors

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