Occupation | Reason for Needing a Loan |
Construction worker Graduate student who is computer literate Migrant labourer in Delhi A person employed in government service Household maid Small trader Auto rickshaw driver A worker whose factory has closed down |
Answer:
Classification Regarding Ability to get a Loan
Occupation
Reason for Needing a Loan
Construction worker
Graduate student who is computer literate
Migrant labourer in Delhi
A person employed in government service
Household maid
Small trader
Auto rickshaw driver
A worker whose factory has closed down
To meet a medical emergency in the family
To pay the fees for a higher degree
To purchase a flat
For expenses related to his daughter's wedding
To meet the daily expenses
To run his business efficiently
To replace his old auto rickshaw with a new one
To meet his expenses till he gets employed again
The criteria I have used for this classification are
(a) Does the borrower have the potential to repay the loan or not? People with a secure job or a running business will get a loan because they have the capability to repay the installments. Here the government servant and small trader will be successful, whereas the migrant labourer, household maid, construction worker and worker whose factory has closed down will not be successful.
(b) Whether the borrower is able to pledge collateral on which to guarantee the loan taken. Here the auto rickshaw driver can pledge his auto rickshaw to the bank and the graduate student can pledge any capital asset owned by him.
These two are the basic prerequisites for getting a loan from a bank.
Those Who Might Get a Bank Loan
Those Who Might Not Get a Bank Loan
Graduate student who is computer literate
A person employed in government service
Small trader
Auto rickshaw driver
Construction worker
Migrant labourer in Delhi
Household maid
A worker whose factory has closed down
You need to login to perform this action.
You will be redirected in
3 sec