10th Class Social Science Money and Credit

  • question_answer 11)
    Given that a large number of people in our country are poor, does it in any way affect their capacity to borrow?  


    Poor have low capacity to borrow since they have no collateral to offer. As such, they cannot get any credit from formal sources of credit like banks and co-operatives. They mostly take loans from informal sources of credit like money lenders, friends, relatives, etc.  

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