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Why do less number of poor households take the loan from the bank and cooperative

Posted by Secret Don 5 years, 8 months ago

CBSE > Class 10 > Social Science

2 answers

Lucifer ? Morningstar? 5 years, 8 months ago

Majority of the people in rural areas depend on landlords and rich farmers. The main reasons behind this are: 1. The number of banks in rural remote areas is low. 2. Bank loans require proper documents and collateral (security). Absence of collateral is one of the major reasons which prevents the poor from getting bank loans. 3. Informal lenders like landlords, know the borrower personally and hence, are often willing to give a loan without a security.

1Thank You

.. .... 5 years, 8 months ago

I don't know sorry ??

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CBSE > Class 10 > Social Science