how to reduce dependence on informal credit sources ?
Dear student ,
The following measures can help in reducing the dependence on informal credit sources :
1.the formal sector like banks and cooperative should lend more to poor people and workers particularly in the rural areas
2. the formal sector should provide cheap and affordable credit
3. the formal sector should ensure that everyone receives loans
4.providing self help groups bank linkage
5.there should be more number of cooperatives and banks in rural areas
6. the goverment should inforce finacial inclusion by giving incentives to rural people and banks to provide door to door service, open more account.
Regards,
The following measures can help in reducing the dependence on informal credit sources :
1.the formal sector like banks and cooperative should lend more to poor people and workers particularly in the rural areas
2. the formal sector should provide cheap and affordable credit
3. the formal sector should ensure that everyone receives loans
4.providing self help groups bank linkage
5.there should be more number of cooperatives and banks in rural areas
6. the goverment should inforce finacial inclusion by giving incentives to rural people and banks to provide door to door service, open more account.
Regards,