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Why do the rural borrowers depend …

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Why do the rural borrowers depend on the informal sector of credit

    • Posted by Aniket Khandelwal 5 years ago

    CBSE > Class 10 > Social Science
    • 3 answers

    Harsh Janghu 5 years ago

    They don't have much knowledge to fulfill the bank's needs or formalities. Also don't have anything to keep as collateral.

    0Thank You

    Santosh Kumar 5 years ago

    ... absence of collateral and documentation ..Absence of awareness among the people about the formal credit

    1Thank You

    Yogita Ingle 5 years ago

    The rural borrowers depend on the informal sector for credit because :

    (i) Absense of collateral and documentation.

    (ii) Flexible loans in term of timelines, interest rates, procedural requirements etc.  

    0Thank You

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