Question

Why is it important to expand formal sources of credit in rural areas?

Answer 1

to develop the rural area

Answer 2

It is important to expand formal resources in rural areas because

: people take money from moneylender and might fall In debt trap.

: This might lead to low income.

: interest that has to be paid is more than what they earn

: If they take from bank ,then they can pay low interest

: their earning would be more and this leads to better standard of life.

Guess this will help you...