Why do we need to expand formal sources of credit in India?(5 marks question)
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
Please briefly explain why you feel this question should be reported.
Please briefly explain why you feel this answer should be reported.
Please briefly explain why you feel this user should be reported.
we need to expand formal sources of credit in india because:-(1) There is no organisation which supervises the credit activities of lenders in the informal sector.(2) There is no one to stop them from using unfair means to get their money back.(3) Formal sources of credit\xa0are less risky and they charge less rate of interest .(4) The RBI supervises the functioning of\xa0formal sourcesif\xa0loans.