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
- Give any two examples of informal sector of credit
- Justify the role of Self Help Groups in the rural economy
- How do banks play an important role in the economy of India
- Which one provides assured payment
- Explain any three loan activities of banks in India
- Why is modern currency accepted as a medium of exchange without any use of its own