Question

Which of the following groups in urban India depend on informal sources to meet their credit needs?

विकल्प

• Poor households

• Households with few assets.

• Both poor households and households with few assets.

• Both well-off households and households with few assets.

Answer 1

Both poor households and households with few assets.

Explanation:

People who live in poor areas of India or don't have many assets often can't get formal credit because they don't have enough collateral, papers, or proof of regular income. To get the credit they need, they usually turn to informal sources like moneylenders, friends, or family.