Question

why do we need to expand formal sources of credit in india ?give three reaSON

Answer 1

1.formal sector are encouraged to prevent farmers from the death trap.
2. formal sector charged reasonable interest on the loans.
3. loans in formal sector is provided by giving the collateral to the banks.

Answer 2

Answer:

1.formal sector are encouraged to prevent farmers from the death trap.

2. formal sector charged reasonable interest on the loans.

3. loans in formal sector is provided by giving the collateral to the banks.

Explanation: