Question

why is cheap is affordable creeit crucial for the country development . explain any 3 reason​

Answer 1

It will reduce the dependence of poor on informal sources of credit it will help the poor in rular and urban areas to start self employment Ventures

This will also improve the living standards of people by increasing their income level

Affordable credit would also end the cycle of debt trapped

Cheap credit will enable more investment

Answer 2

Answer:

1. Cheap credit means more income would be left with the borrower to reinvest rather than return as interest.
2. Credit plays a major role in the development of a country of creating better facilities for agricultural and industrial activities
3. Credit helps people from all walks of life in setting up their business and increase their earnings.

Explanation: