Why do banks and cooperative societies need to lend more? Explain.

1.	Why do banks and cooperative societies need to lend more? Explain.
Answer» Banks and cooperative societies need to lend more. i. This would lead to higher incomes ii. People could borrow cheaply for a variety of needs. iii. They could grow cropsand set up small-scale industries etc. iv. Cheap and affordable credit is crucial for the country’s development v. To save and reduce the dependence on informal sources of credit vi. It is important that the formal credit is distributed more equally so that the poor can benefit from the cheaper loans

Answer»

Banks and cooperative societies need to lend more.

i. This would lead to higher incomes

ii. People could borrow cheaply for a variety of needs.

iii. They could grow cropsand set up small-scale industries etc.

iv. Cheap and affordable credit is crucial for the country’s development

v. To save and reduce the dependence on informal sources of credit

vi. It is important that the formal credit is distributed more equally so that the poor can benefit from the cheaper loans

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Why do banks and cooperative societies need to lend more? Explain.

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