Why is it necessary to increase a large number of banks mainly in rural areas
Money and Credit (10)Why is it necessary to increase a large number of banks mainly in rural areas ? Explain.
Answer
Increase large number of banks:
- To reduce the dependence on informal sector of credit
- To provide cheaper loans
- To provide accessibility towards loans for the poor
- Exam Year: 2019
Related Questions
- Why is modern currency accepted as a medium of exchange without any use of its own
- How does money act as a medium of exchange
- Why are service conditions of formal sector loans better than informal sector
- What is meant by double coincidence of wants
- Cheap and affordable credit is crucial for the country’s development
- Give one example each of modern currency and older currency