1. Credit facilities that are extended to the people indirectly play an important role in the development aspect of the country. The credit facilities extended by formal sources (banks and cooperatives) need to expand and it is also necessary that everyone receives them 2. The high rates of interest charged by the informal sector restrict the income of people and often push them into a state of the debt trap. People in rural areas majorly depend on sources of informal credit for agricultural purposes involving costs on equipment and other resources. 3. Credit at low rates of interest, as opposed to informal sources, would lead to high incomes and increase the financial ability of the people. This would help them in growing crops, do business and set up small-scale industries or trade in goods which would eventually contribute to the healthy development of the country.