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प्रश्न
Explain the importance of formal sector loans in India.
उत्तर
Formal sector of credit refers to the loans taken from banks and cooperative societies. Forma sector charges reasonable rate of interests, seeks repayment within a stipulated time with a degree of flexibility with proper documentation.
संबंधित प्रश्न
Explain with an example, how credit plays a vital and positive role for development.
Which one of the following is a formal source of credit?
Why is it necessary for the banks and cooperative societies to increase their lending facilities in rural areas? Explain.
How do banks mediate between those who have surplus money and those who need money?
Why do we need to expand formal sources of credit in India?
How can the problem of unemployment be eradicated in India? Explain any three ways.
“Credit can play a positive role.” Justify the statement with arguments.
Answer the following question.
Describe the importance of formal sources of credit in economic development.
Explain any three reasons for the banks and cooperative societies to increase their lending facilities in rural areas.
Answer the following question.
Why is cheap and affordable credit important for the country's development? Explain any three reasons.
