Social Sciences, asked by Maviyamashkoor, 11 months ago

Why do we need to expand the formal sources of credit in India?

Answers

Answered by gayathir

Answer:

it is creating a credit card

Explanation:fidgjdfrrrrlgofdhgdolg;vdhfrc bdf

Answered by arenarohith

Answer:

We need to expand the formal sources of credit because of the following reasons;) (1) Formal sources of credit are less risky and they charge less rate of interest . (2) The RBI supervises the functioning of formal sources if loans. It monitors the bank in actually maintain cash balance.

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