Why is the formal credit not available for poor in rural areas? Why is there a need to
expand rural credit?
Answers
Answered by
0
Answer:
hope first answer is helpful for you
Answered by
0
Answer:
- formal credit not available for poor in rural area because of the lack of banks in the ruler area
- poor peoples are not having proper collateral and documents of their property
- while taking loan from formal credit there are very complex terms as compared to the informal credit
- poor people want carried for unproductive purpose but formal source give credit for only productive purpose
- money lender provide loan without any collateral to the poor people
Similar questions