Prove with an argument that there is a great need to expand formal sources of credit in rural India. -SST 10th

Prove with an argument that there is a great need to expand formal sources of credit in rural India. -SST 10th
by

1 Answer

Answer :

There is a great need to expand formal sources of credit in rural India because there is no organization which supervises the credit activities of lenders in the informal sector. They lend at whatever interest rate they want and use unfair means of getting their money back.
by

Related questions

Prove with an argument that there is a great need to expand formal sources of credit in rural India. -SST 10th

Description : Prove with an argument that there is a great need to expand formal sources of credit in rural India. -SST 10th

Last Answer : To expand formal sources of credit in rural India, dependence on informal sources of credit has to be reduced.

Why do we need to expand formal sources of credit in India? Give three reasons. -SST 10th

Description : Why do we need to expand formal sources of credit in India? Give three reasons. -SST 10th

Last Answer : . The cost of informal loans is much higher and often leads to a debt trap. Also, people who might wish to start a new enterprise by borrowing may not do so because of the high cost ... important that the formal credit is distributed more equally so that the poor can benefit from the cheaper loans.

Why do we need to expand formal sources of credit in India ? Give three reasons. -SST 10th

Description : Why do we need to expand formal sources of credit in India ? Give three reasons. -SST 10th

Last Answer : 1. The formal sector i.e. the banks and the cooperatives need to engage more in the lending activities because of the disadvantages posed by the informal sector including high rates of ... the development aspect of a country. Therefore, affordable credit is crucial for a country's development.

Why do we need to expand formal sources of credit in India? -SST 10th

Description : Why do we need to expand formal sources of credit in India? -SST 10th

Last Answer : Formal sources of credit in India provide loans to individuals at far cheaper rates than informal sources of credit. This helps to increase their income and they are able to repay the principal amount ... income. It will lead to more production. This helps in the economic development of a country.

5. Why do we need to expand formal sources of credit in India? -Economics 10th

Description : 5. Why do we need to expand formal sources of credit in India? -Economics 10th

Last Answer : Formal sources of credit are the Government authorised organisations that are eligible to lend money to people. It is important to expand formal sources of credit in India because the informal sources are ... , people will be able to take loans and use them for the development of the country.

What are the two main reasons for formal credit not being available to the rural poor ? -SST 10th

Description : What are the two main reasons for formal credit not being available to the rural poor ? -SST 10th

Last Answer : The two main reasons for formal credit not being available to rural poor are : (i) Absence of collateral and documentation is the main reason which prevents rural poor from getting bank loans. ... (ii) Cheap and affordable credit for rural poors is important for the country's overall development.

Which are the two major sources of formal sector credit in India ? -SST 10th

Description : Which are the two major sources of formal sector credit in India ? -SST 10th

Last Answer : The two major sources of formal sector credit in India are - commercial banks and cooperative societies. We need to expand formal sources of credit due to following reasons : (a) Informal sources of ... -traps. (b) Formal sources of credit are cheaper and thus they help in country's development.

Mention four characteristics each of the formal and informal sources of credit in India. -SST 10th

Description : Mention four characteristics each of the formal and informal sources of credit in India. -SST 10th

Last Answer : Features of formal sources of credit are : (a) Formal sources of credit are provided by banks and cooperative societies to the borrowers. (b) Reserve Bank of India (RBI) governs the ... . (d) They generally charge higher rates of interest and exploit the borrowers for their own benifits.

What are differences between formal and informal sources of credit? -SST 10th

Description : What are differences between formal and informal sources of credit? -SST 10th

Last Answer : Formal sources: 1.These sources of credit are registered by the government and have to follow its rules and regulations. 2.RBI supervises the functioning of formal sources of credit. 3.They ... main motive is profit-making. Example: Moneylenders, traders, employees, relatives and friends, etc.

Differentiate between formal and informal sources of credit. -SST 10th

Description : Differentiate between formal and informal sources of credit. -SST 10th

Last Answer : Difference between Formal and Informal Sources

Differentiate between formal and informal sources of credit. Explain problems faced by borrowers of loan from informal sources. -SST 10th

Description : Differentiate between formal and informal sources of credit. Explain problems faced by borrowers of loan from informal sources. -SST 10th

Last Answer : The moneylenders charge very high rates of interest keep no records of transactions and harass the poor borrowers.

Explain the differences between Formal and Informal Sources of Credit. -SST 10th

Description : Explain the differences between Formal and Informal Sources of Credit. -SST 10th

Last Answer : The differences between Formal and Informal Sources of Credit are :-

What are the various sources of credit in rural areas? Which one of them is the most dominant source of credit and why ? -SST 10th

Description : What are the various sources of credit in rural areas? Which one of them is the most dominant source of credit and why ? -SST 10th

Last Answer : In rural areas, there are both informal sources like moneylenders, traders, relatives etc. and formal sources of credit like commercial banks and cooperative societies. Informal sources are dominant: ... the previous loan. But usually, moneylenders only exploit the poor with high-interest rates.

What are the various sources of credit in rural areas? -SST 10th

Description : What are the various sources of credit in rural areas? -SST 10th

Last Answer : Various sources of credit in rural areas are : (i) Agricultural traders, (ii) Moneylenders, (iii) Commercial banks, (iv) Cooperative societies and (v) Relatives and friends. The most convenient source ... , livestock etc.) and uses this as a guarantee to the lender until the loan is repaid.

What is necessary to reduce the dependence on informal sources of credit in rural areas? -SST 10th

Description : What is necessary to reduce the dependence on informal sources of credit in rural areas? -SST 10th

Last Answer : It is necessary that banks and cooperatives increase their lending in the rural areas.

Which government body supervises the functioning of formal sources of loans in India ? -SST 10th

Description : Which government body supervises the functioning of formal sources of loans in India ? -SST 10th

Last Answer : The Reserve Bank of India supervises the functioning of formal sources of loans. Its functions are 1. Maintains a minimum cash balance to avoid cash shortages in the country. 2. Ensures that the banks ... information from the banks on how much they are lending, to whom, at what interest rate, etc.

Which government body supervises the functioning of formal sources of loans in India? Explain its functioning. -SST 10th

Description : Which government body supervises the functioning of formal sources of loans in India? Explain its functioning. -SST 10th

Last Answer : '1. The reserve bank of India supervises the functioning of formal sources of loans 2. The RBI monitors of banks in actually maintaining cash balance 3. The RBI sees that the bank give loans not just ... information to the RBI on how much they are lending ,to whom ,at what interest rate ,etc.

Which government body supervises the functioning of formal sources of loans in India? -SST 10th

Description : Which government body supervises the functioning of formal sources of loans in India? -SST 10th

Last Answer : The Reserve Bank of India (Reserve Bank of India) supervises the functioning of formal sources of loans in India. For instance, banks maintain a minimum cash balance out of the deposits they receive. Functions ... Bank of India on how much they are lending, to whom, at what interest rate, etc.

Which are the two major sources of formal sectors in India ? -SST 10th

Description : Which are the two major sources of formal sectors in India ? -SST 10th

Last Answer : The two major sources of formal sources of credit are: (i) Banks and (ii) Cooperatives. Need to expand formal sources of credit are : (i) To save the poor farmers and workers ... loan. (iii) Formal credit can fulfil various needs of the people through providing cheap and affordable credit.

Which are the two most common sources of energy in rural India? -SST 10th

Description : Which are the two most common sources of energy in rural India? -SST 10th

Last Answer : Firewood and cattle dung cake are the two most common sources of energy in rural India.

Structure of logical argument is based on: (A) Formal validity (B) Material truth (C) Linguistic expression (D) Aptness of examples

Description : Structure of logical argument is based on: (A) Formal validity (B) Material truth (C) Linguistic expression (D) Aptness of examples

Last Answer : (A) Formal validity

Why is the supervision of the functioning of formal sources of loans necessary ? -SST 10th

Description : Why is the supervision of the functioning of formal sources of loans necessary ? -SST 10th

Last Answer : The Reserve Bank of India (RBI) supervises the functioning of the formal sources of loans i.e. the banks and cooperatives in order to ensure that the banks give loans not just to profitmaking businesses and traders but also to small scale industries and small borrowers etc.

Which body supervises the functioning of formal sources of loans ? -SST 10th

Description : Which body supervises the functioning of formal sources of loans ? -SST 10th

Last Answer : The Reserve Bank of India supervises the functioning of formal sources of loans.

Who supervises the functioning of formal sources of loan ? -SST 10th

Description : Who supervises the functioning of formal sources of loan ? -SST 10th

Last Answer : Reserve Bank of India (RBI).

Why is the supervision of the functioning of formal sources of loans necessary ? -SST 10th

Description : Why is the supervision of the functioning of formal sources of loans necessary ? -SST 10th

Last Answer : It is necessary because banks have to submit information to the RBI on how much they are lending, to whom they are lending and what interest rate, etc.

What is To strengthen or prove an argument analysis or idea by providing facts details examples and other information is to?

Description : What is To strengthen or prove an argument analysis or idea by providing facts details examples and other information is to?

Last Answer : To strengthen or prove an argument, analysi, or idea by providing facts, details, examples and other information is to {SUPPORT} it.

What is credit? Why is there a need for credit in rural areas? -SST 10th

Description : What is credit? Why is there a need for credit in rural areas? -SST 10th

Last Answer : Credit refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment. There is a need for credit in rural areas for ... (iv) Rural people also take loans for starting small business and for the marriage of their daughters.

Explain the various sources of funds for rural development.

Description : Explain the various sources of funds for rural development.

Last Answer : 1) A large amount of money is required for rural development. 2) Rural development includes the funds required for agricultural development, infrastructure development, (road, electricity, markets, ... Domestic institutional is a major contribution of funds for development of rural areas.

Inside rural homes, the source/sources of Nitrogen Oxide Pollution may be: (a) Unvented gas stoves (b) Wood stoves (c) Kerosene heaters Choose the correct code: (A) (a) and (b) only (B) (b) and (c) only (C) (b) only (D) (a), (b) and (c)

Description : Inside rural homes, the source/sources of Nitrogen Oxide Pollution may be: (a) Unvented gas stoves (b) Wood stoves (c) Kerosene heaters Choose the correct code: (A) (a) and (b) only (B) (b) and (c) only (C) (b) only (D) (a), (b) and (c)

Last Answer : Answer: D

What sources of historical evidence would most help the historian form a historical argument to answer this question?

Description : What sources of historical evidence would most help the historian form a historical argument to answer this question?

Last Answer : Need answer

What is the main informal source of credit for rural households in India ? -SST 10th

Description : What is the main informal source of credit for rural households in India ? -SST 10th

Last Answer : The main informal source of credit is moneylenders for the rural households in India.

“The rich households are availing cheap credit from formal lenders whereas the poor house holds have to pay a heavy price for borrowing.” -SST 10th

Description : “The rich households are availing cheap credit from formal lenders whereas the poor house holds have to pay a heavy price for borrowing.” -SST 10th

Last Answer : . The formal sector still meets only about half of the total credit needs of the rural people. . The remaining credit needs are met from informal sources. . Most loans from informal lenders ... the rich households who receive formal credit whereas the poor have to depend on the informal sources.

Which segment of the society receives formal credit? -SST 10th

Description : Which segment of the society receives formal credit? -SST 10th

Last Answer : It is the richer segment of society which receives formal credit.

B) CaixaBank Explanation: As per the agreement, they will expand banks‘ guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local enterprises The banks will collaborate in areas of mutual interest such as syndicated loan business, guarantee transactions, trade finance and export credit agency finance, infrastructure finance and networking services, among others.

Description : B) CaixaBank Explanation: As per the agreement, they will expand banks guarantee transaction businesses by jointly providing credit to Indian-Spanish joint ventures and Indian local ... finance and export credit agency finance, infrastructure finance and networking services, among others.

Last Answer : Recently an Indian bank launched next generation features on its app „iMobile‟ which will enable customers to instantly pay taxes and book railway tickets within the app. Name the bank. A) Federal Bank B) Punjab National Bank C) Kotak Mahindra Bank D) ICICI Bank E) Bandhan Bank

By offering credit through its shops, Allied, the furniture and carpet retailer, is trying to get consumers to: A)decrease both disposable and discretionary income B)expand disposable income at the expense of discretionary income C)expand current buying power at the expense of future buying power D)expand both disposable income and wealth

Description : By offering credit through its shops, Allied, the furniture and carpet retailer, is trying to get consumers to: A)decrease both disposable and discretionary income B)expand disposable income ... current buying power at the expense of future buying power D)expand both disposable income and wealth

Last Answer : C)expand current buying power at the expense of future buying power

How are cooperatives functioning in the rural areas to solve the problem of credit? -SST 10th

Description : How are cooperatives functioning in the rural areas to solve the problem of credit? -SST 10th

Last Answer : . Besides banks, the other major source of cheap credit in rural areas are the cooperatives. . Members of a cooperative, pool their resources for cooperation in certain areas. . Cooperatives form ... provide loans to members. Once these loans are repaid, another round of lending can take place.

Cheap and affordable credit is essential for poor households both in rural and urban areas.' -SST 10th

Description : Cheap and affordable credit is essential for poor households both in rural and urban areas.' -SST 10th

Last Answer : Cheap and affordable credit is essential for poor households: 1. The informal sector lends at a high-interest rate in rural areas so the cost for the borrower is much more. 2. When the cost of borrowing ... where the amount to be repaid is more than the borrower's income and he has to borrow more.

Rural people needs more credit -SST 10th

Description : Rural people needs more credit -SST 10th

Last Answer : 'Due to following reasons there is need to expand rural credit (i) The expansion of formal sources of rural credit is essential to save poor from the high rate of interest of moneylenders and ... can get cheap loans from sources like cooperatives banks, Self Help Groups, regional rural banks, etc..

Why do the rural borrowers depend on the informal sector for credit? -SST 10th

Description : Why do the rural borrowers depend on the informal sector for credit? -SST 10th

Last Answer : The rural borrowers depend on the informal sector for credit because : (i) Absense of collateral and documentation with rural borrowers. (ii) Flexible loans in term of timelines, interest rates, procedural ... the group is regular in savings for year or two, it can avail loan from the bank.

Why do people in rural areas demand for credit? -SST 10th

Description : Why do people in rural areas demand for credit? -SST 10th

Last Answer : They demand for credit for crop production.

During last five years, which of the following Institutions have extended the largest amount of fresh credit for agriculture in India among all the institutions given in the list ? (A) NABARD (Direct credit) (B) Commercial Banks (C) Cooperative Banks (D) Primary Agricultural Credit Societies (E) Regional Rural Banks and Local Area Banks

Description : During last five years, which of the following Institutions have extended the largest amount of fresh credit for agriculture in India among all the institutions given in the list ? (A) ... Cooperative Banks (D) Primary Agricultural Credit Societies (E) Regional Rural Banks and Local Area Banks

Last Answer : (E) Regional Rural Banks and Local Area Banks

In India, which bank has the highest share in the disbursement of credit to agriculture and allied activities? a) Cooperative Banks b) Regional Rural Banks c) Commercial Banks d) Microfinance institutions

Description : In India, which bank has the highest share in the disbursement of credit to agriculture and allied activities? a) Cooperative Banks b) Regional Rural Banks c) Commercial Banks d) Microfinance institutions

Last Answer : Answer- c

What way did legal rights for women expand in Great Britain during the 19th century?

Description : What way did legal rights for women expand in Great Britain during the 19th century?

Last Answer : women won the right to own property after marriage

When more than one bank is allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as___________ A. Consortium B. Syndication C. Multiple Banking D. Participation

Description : When more than one bank is allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as___________ A. Consortium B. Syndication C. Multiple Banking D. Participation

Last Answer : A. Consortium Explanation: A banking syndicate formed by multiple banks, often from different countries, for the singular purpose of financing a specific project that is too large for any individual ... in the risk and the profits. Upon completion of the project the consortium bank is disbanded.

The second Green Revolution aims at increasing agricultural output to promote (1) Availability of easy credit to big farmers (2) Co-operative farming (3) Inclusive growth (4) Development of rural sector

Description : The second Green Revolution aims at increasing agricultural output to promote (1) Availability of easy credit to big farmers (2) Co-operative farming (3) Inclusive growth (4) Development of rural sector

Last Answer : (3) Inclusive growth Explanation: In the Indian context, the Second Green Revolution is a change in agricultural production widely thought necessary to feed and sustain the growing population on ... as partners of development instead of a mere beneficiary of some government schemes or programme.

State the objectives of credit-cum-subsidy scheme of rural housing.

Description : State the objectives of credit-cum-subsidy scheme of rural housing.

Last Answer : This is a Rural Housing scheme to provide shelter to poor rural people who are living below poverty line (BPL). It is part credit and part subsidy-based scheme. Its objectives are i) To ... a house iv) All rural households having annual income of INR 32000 are covered under this scheme. 

The second Green Revolution aims at increasing agricultural output to promote (1) Availability of easy credit to big farmers (2) Co-operative farming (3) Inclusive growth (4) Development of rural sector

Description : The second Green Revolution aims at increasing agricultural output to promote (1) Availability of easy credit to big farmers (2) Co-operative farming (3) Inclusive growth (4) Development of rural sector

Last Answer : Inclusive growth

Why are poor households still dependent on informal sources of credit? -SST 10th

Description : Why are poor households still dependent on informal sources of credit? -SST 10th

Last Answer : Reasons: . Banks are not present everywhere in rural India. . Even if they are present, getting a loan from a bank is much more difficult than taking a loan from informal sources. ... charge very high rates of interest, keep no records of the transactions and harass the poor borrowers.

“Poor households still depend on informal sources of credit.” -SST 10th

Description : “Poor households still depend on informal sources of credit.” -SST 10th

Last Answer : Poor Households still depend on informal sources of credit because:- . Banks are not present everywhere on rural area. . Even when they are present getting a loan from the bank is much more ... money lenders they know the borrowers personally and they are willing to give a loan without collateral.

What are the two categories of sources of credit ? Mention four features of each. -SST 10th

Description : What are the two categories of sources of credit ? Mention four features of each. -SST 10th

Last Answer : The two sources of credit are: Formal Credit: 1. It's provided by banks and cooperatives. 2. Reserve Bank of India regulates the functioning of the formal sources of credit like the interest rate 3. ... get the money back. 4. Most of the times, lenders are poor farmers who fall into debt traps.