Question

why it is necessary to increase a large number of bank in rural area in five points​

Answer 1

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Explanation:

Most loans from informal lenders carry a very high interest rate and do Iitle to increase the income of the borrowers. Thus, it is necessary that banks and cooperatives increase their lending particularly in the rural areas, so that the dependence of the poor on informal sources of credit reduces.

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Answer 2

Answer:

1. it is governed by the RBI.

2. it takes low rate of interest in comparison to informal sources.

3. the chances of debt trap is low.

4. people are not exploitated with exorbitant high rate of interest

5. it would lead to better income of poor people as they would have more money after paying off the loan.