Social Sciences, asked by tyagi58, 1 year ago

why is there a great need to expand formal sector credit in india ? explain any three reason.

Answers

Answered by nagamani90
8
It is important because if people still use the informal credit in rural areas then it affect the development and technology of our country.The people were unable to pay the interest of loan in informal sector .some people may die because of debt.so to overcome these problems it is need to expand formal credit .hope it helps u
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