Mention the requirement which the borrower has to fulfil before taking a housing loan.
The requirements are:
(i)The borrower has to submit a certificate of his source of income.
(ii)He has to produce documents of his employment records.
(iii)The papers of the new house has to be handed over to the banks as collateral security.
Majority of the credit needs of the _________ households are met from informal sources.
_________ costs of borrowing increase the debt-burden.
_________ issues currency notes on behalf of the Central Government.
Banks charge a higher interest rate on loans than what they offer on ________.
_________ is an asset that the borrower owns and uses as a guarantee until the loan is repaid to the lender.
In a SHG most of the decisions regarding savings and loan activities are taken by:
Formal sources of credit does not include:
Why do we need to expand formal sources of credit in India?
Why is money accepted as a medium of exchange in India?
Answer the questions asked below:
(i)Why are transactions are made in money?
(ii)Why is money is called a medium of exchange?
(iii)What is the most significant feature of the barter system?
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