10th Class Social Science Money and Credit

  • question_answer 11) Given that a large number of people in our country are poor, does it in any way affect their capacity to borrow?  

    Answer:

    Poor have low capacity to borrow since they have no collateral to offer. As such, they cannot get any credit from formal sources of credit like banks and co-operatives. They mostly take loans from informal sources of credit like money lenders, friends, relatives, etc.  

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