Social Sciences, asked by Shivisingh, 1 year ago

Why is it not possible for poor to get loans from banks

mrkuchhal: it is not possible for poor to get loans from banks because they are unable to fulfil the required documents. Moreover, they are unable to assure that they would repay the loans. They have nothing to give as collateral.

Answers

Answered by dishantsinghom

here is your answer...

Attachments:

Shivisingh: Can you give one more point because the question is for 5 marks

Shivisingh: Plzz....

Secret11: ok

Secret11: And the banks tell that they run into a huge reputational loss... As when they give loan they expect some profit so if they lend money to the poor they think that they do no get any profit and if this continues they will have to face great losses in the future

Secret11: hope this helps u.... please mark this as the brainliest as I need one more brainliest answer for my next rank

Secret11: Can u mark it as brainliest answer by today or tomorrow because I think 30 days may get over and I will have to restart all over again

Answered by Secret11

It is because it is very difficult for the poor to repay it back to the bank... and even bake tell that they cannot make profit in that because the amount they take will be less so.... It is good that poor people do not take loans as the banks will always see for profit and they don't mind if they are poor or rich.....

Previous Question

Next Question