10th Class Social Science Money and Credit Question Bank 10th CBSE Social Science Money and Credit

  • question_answer                                 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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