Why do we need to expand formal sources of credit in India.

1.	Why do we need to expand formal sources of credit in India.
Answer» Answer: There is need to expand formal SOURCES of credit in India as: (i)This would lead to higher incomes and MANY people COULD then borrow cheaply for a variety of needs. (ii)They could GROW crops, do business, SET up small-scale industries etc. ... The formal sector credit in India includes loans from banks and cooperatives. Explanation: PLEASE FOLLOW ME

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Answer:

There is need to expand formal SOURCES of credit in India as: (i)This would lead to higher incomes and MANY people COULD then borrow cheaply for a variety of needs. (ii)They could GROW crops, do business, SET up small-scale industries etc. ... The formal sector credit in India includes loans from banks and cooperatives.

Explanation:

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Why do we need to expand formal sources of credit in India.