Question

why do we need to expand formal sources of credit in india​

Answer 1

Answer:

We need formal sources of credit in order to reduce the dependence of farmers on informal sources of credit like money lenders. 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 formal sources of credit in order to reduce the dependence of farmers on informal source of credit like money lenders. To reduce the high risk associated with informal source of credit because of fluctuating terms and conditions. To avail cheaper credit to farmers in rural area.

HOPE IT HELPS YOU