Credit facilities at reasonable rate of interest is crucial for the countries development due to following reason:
(A) It would lead to higher incomes and reduces the cost of borrowing as people have to pay lower rate of interest
(B) Cheap credit facilities encourage more people to take up there own economic activities which lead to the expansion in the production of goods and services
(C) Famer could grow crops
(D) It helps people to free themselves from the clusters of informal sources who charge very high rate of interest
(E) Reasonable credit facilities help people continue there business activities and also to meet there personal requirements
Answers & Comments
Credit facilities at reasonable rate of interest is crucial for the countries development due to following reason:
(A) It would lead to higher incomes and reduces the cost of borrowing as people have to pay lower rate of interest
(B) Cheap credit facilities encourage more people to take up there own economic activities which lead to the expansion in the production of goods and services
(C) Famer could grow crops
(D) It helps people to free themselves from the clusters of informal sources who charge very high rate of interest
(E) Reasonable credit facilities help people continue there business activities and also to meet there personal requirements