Question

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

Answer 1

Answer:

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.

Answer 2

Answer:

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.