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What is credit ? How does credit play a vital and positive role ? Explain with an example.

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https://www.meritnation.com/ask-answer/question/credit-plays-a-vital-and-positive-role-explain-with-example/money-and-credit/8587875

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Money available for a client to borrow is known as Credit,It plays an important role in the society because poor and daily wage Farmers can get a Credit and improve their Harvest.
For example : Ramu is a poor Farmer who has a small piece of land in which he cultivates Corn , Now he needs appropriate equipments to cultivate Corn so he gets a credit from a Bank and buys the things he wants and gets a good Harvest.
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Credit (loan) refers to an agreement in which the lender supplies the borrower with money, goods or services in return for the promise of future payment. Ex. : Is on page 43 of the NCERT on Swapna and festival season. Plz do not mind I don't have time right now but could help you.. Also, it would be easy for you to read the example and write it in your own language.. I too have to read it and the example would go too long.. Plz pardon mee.. Hope this helps...
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