Why do we need to expand …

◆High cost of borrowing leads to a major share of earnings. ◆Many times, the higher interest rate leads to the requirement to pay more than the earnings, which leafs to falling into a debt-trap. ◆Borrowers falling into debt-traps discourage more people from borrowing, and this is reducing development of the country. ◆Banks and cooperative societies lending to more borrowers will lead to higher incomes and many people could then borrow cheaply for a variety of needs like growing crops, set-up business or small-scale industries

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