why should credit be available at reasonable rate?(any 5 points)
Answers
Hey Ma8
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because :-
#through the credit we can purchase car and building etc.
# credit help the business man to expand their business
# credit helps in the development of manufacturing sector , agriculture sector and service sector
# credit improves our standard of living
# credit helps the people to increases their profit
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i hope it is useful for you thanks mark me as a brainlist
Credit facilities at reasonable rate of interest is crucial for the countries development due to following reason:
(A) It would lead to higher incomes and reduces the cost of borrowing as people have to pay lower rate of interest
(B) Cheap credit facilities encourage more people to take up there own economic activities which lead to the expansion in the production of goods and services
(C) Famer could grow crops
(D) It helps people to free themselves from the clusters of informal sources who charge very high rate of interest
(E) Reasonable credit facilities help people continue there business activities and also to meet there personal requirements