Prove with an argument that there is a great need to expand formal sou

1.	Prove with an argument that there is a great need to expand formal sources of credit in rural India.
Answer» There is a great need to expand the formal sources of credit in rural India because: There is no organisation to supervise credit activities of the informal sector. It could lead to increasing debt among the borrowers. The rate of interest is very high in informal sector.

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

Answer»

There is a great need to expand the formal sources of credit in rural India because:

There is no organisation to supervise credit activities of the informal sector. It could lead to increasing debt among the borrowers.
The rate of interest is very high in informal sector.