Economy, asked by himeshmadhok6, 20 hours ago

Why poor households are still dependent on informal sources of credit ?

Answers

Answered by SOMEBRXTHX

2

Answer:

Poor households still depend on informal sources of credit because: Bank loans require proper documentation and collateral which is rarely available with poor households. ... Formal sources provide loan only for productive purposes, whereas the informal sources provide credit for productive and non-productive purposes.

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