Question

Why do we need to expand formal sources of credit in India ? Give three reasons.​

Answer 1

Answer:

the three reasons are

Explanation:

There is need to expand formal sources of credit in India as: (i)This would lead to higher incomes and many people could then borrow cheaply for a variety of needs. (ii)They could grow crops, do business, set up small-scale industries etc. (iii)They could set up

hópe it's hélp yóú

Answer 2

Answer:

1. Thus, it is necessary that banks and cooperatives increase their lending particularly in the rural areas so that the dependence of the poor on informal sources of credit reduces......it is Important that the formal credit is distributed more equally so that the poor can benefit from the cheaper loans.

Explanation:

Sorry only one