Banks are present everywhere, but it is very difficult for poor households to get loan from the bank than taking a loan from informal source? Why is it so?

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asked Dec 22, 2023 171k views

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Printemp · Answer 1 · 2023-12-24T22:07:46+0000

Answer:

Banks are not present everywhere in rural India, where as the informal sources are easily available in all the villages. ... Getting a loan from the bank is much more difficult than taking a loan from the informal resources because bank loans require proper documents and collateral.

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Matthew Sposato · Answer 2 · 2023-12-26T20:45:04+0000

Step-by-step explanation:

Banks are not present everywhere in rural India, where as the informal sources are easily available in all the villages. Getting a loan from the bank is much more difficult than taking a loan from the informal resources because bank loans require proper documents and collateral.

Banks are present everywhere, but it is very difficult for poor households to get loan from the bank than taking a loan from informal source? Why is it so?

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Banks are present everywhere, but it is very difficult for poor households to get loan from the bank than taking a loan from informal source? Why is it so?​

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Banks are present everywhere, but it is very difficult for poor households to get loan from the bank than taking a loan from informal source? Why is it so?