279769
Credit from _______________ pushes the borrower into a painful situation.
1 Cooperatives
2 SHG
3 Moneylenders
4 Banks 1Mark
Explanation:
Moneylenders When a poor person takes a loan he does find it convenient to go to a bank basically because he is uneducated and even does not have a collateral to present in a bank. Hence he reaches out to the informal sources of credit which are basically the moneylenders. When he goes to moneylenders the rates of interest charged by them is very high but since the borrower is in need he has no other option.
MONEY and CREDITS
279770
Tick the correct answer. Arun is one of the few people in Sonpur to take a bank loan because:
1 Other people in the village prefer to borrow from the moneylenders.
2 Banks demand collateral which everyone cannot provide.
3 Interest rate on bank loans is same as the interest rate charged by the traders. 1Mark
Explanation:
Banks demand collateral which everyone cannot provide. Arun is one of the few people in Sonpur to take a bank loan because it is necessary to provide collateral to the bank while borrowing and everyone in the village cannot provide collateral as Arun is able to do, therefore he can easily borrow having the capacity of paying the debts in future.
MONEY and CREDITS
279771
________ is an asset which serves as a unit of value, medium of exchange, standard of deferred payment and store of value.
1 Money
2 Currency
3 Monetary unit
4 Rupee 1Mark
Explanation:
Money Money refers to an asset in the economy that acts as a common medium of exchange issued under the law of government and acts as a legal tender for the whole country. The money possess that following characteristics.
MONEY and CREDITS
279774
The terms of credit comprise of _____.
1 Fixed deposit
2 Voter card
3 Collateral
4 Pan card 1Mark
Explanation:
Collateral Interest rate, collateral and documentation requirement and the mode of repayment together comprise what is called the terms of credit. They may vary depending on the nature of the lender and the borrower.
279769
Credit from _______________ pushes the borrower into a painful situation.
1 Cooperatives
2 SHG
3 Moneylenders
4 Banks 1Mark
Explanation:
Moneylenders When a poor person takes a loan he does find it convenient to go to a bank basically because he is uneducated and even does not have a collateral to present in a bank. Hence he reaches out to the informal sources of credit which are basically the moneylenders. When he goes to moneylenders the rates of interest charged by them is very high but since the borrower is in need he has no other option.
MONEY and CREDITS
279770
Tick the correct answer. Arun is one of the few people in Sonpur to take a bank loan because:
1 Other people in the village prefer to borrow from the moneylenders.
2 Banks demand collateral which everyone cannot provide.
3 Interest rate on bank loans is same as the interest rate charged by the traders. 1Mark
Explanation:
Banks demand collateral which everyone cannot provide. Arun is one of the few people in Sonpur to take a bank loan because it is necessary to provide collateral to the bank while borrowing and everyone in the village cannot provide collateral as Arun is able to do, therefore he can easily borrow having the capacity of paying the debts in future.
MONEY and CREDITS
279771
________ is an asset which serves as a unit of value, medium of exchange, standard of deferred payment and store of value.
1 Money
2 Currency
3 Monetary unit
4 Rupee 1Mark
Explanation:
Money Money refers to an asset in the economy that acts as a common medium of exchange issued under the law of government and acts as a legal tender for the whole country. The money possess that following characteristics.
MONEY and CREDITS
279774
The terms of credit comprise of _____.
1 Fixed deposit
2 Voter card
3 Collateral
4 Pan card 1Mark
Explanation:
Collateral Interest rate, collateral and documentation requirement and the mode of repayment together comprise what is called the terms of credit. They may vary depending on the nature of the lender and the borrower.
279769
Credit from _______________ pushes the borrower into a painful situation.
1 Cooperatives
2 SHG
3 Moneylenders
4 Banks 1Mark
Explanation:
Moneylenders When a poor person takes a loan he does find it convenient to go to a bank basically because he is uneducated and even does not have a collateral to present in a bank. Hence he reaches out to the informal sources of credit which are basically the moneylenders. When he goes to moneylenders the rates of interest charged by them is very high but since the borrower is in need he has no other option.
MONEY and CREDITS
279770
Tick the correct answer. Arun is one of the few people in Sonpur to take a bank loan because:
1 Other people in the village prefer to borrow from the moneylenders.
2 Banks demand collateral which everyone cannot provide.
3 Interest rate on bank loans is same as the interest rate charged by the traders. 1Mark
Explanation:
Banks demand collateral which everyone cannot provide. Arun is one of the few people in Sonpur to take a bank loan because it is necessary to provide collateral to the bank while borrowing and everyone in the village cannot provide collateral as Arun is able to do, therefore he can easily borrow having the capacity of paying the debts in future.
MONEY and CREDITS
279771
________ is an asset which serves as a unit of value, medium of exchange, standard of deferred payment and store of value.
1 Money
2 Currency
3 Monetary unit
4 Rupee 1Mark
Explanation:
Money Money refers to an asset in the economy that acts as a common medium of exchange issued under the law of government and acts as a legal tender for the whole country. The money possess that following characteristics.
MONEY and CREDITS
279774
The terms of credit comprise of _____.
1 Fixed deposit
2 Voter card
3 Collateral
4 Pan card 1Mark
Explanation:
Collateral Interest rate, collateral and documentation requirement and the mode of repayment together comprise what is called the terms of credit. They may vary depending on the nature of the lender and the borrower.
279769
Credit from _______________ pushes the borrower into a painful situation.
1 Cooperatives
2 SHG
3 Moneylenders
4 Banks 1Mark
Explanation:
Moneylenders When a poor person takes a loan he does find it convenient to go to a bank basically because he is uneducated and even does not have a collateral to present in a bank. Hence he reaches out to the informal sources of credit which are basically the moneylenders. When he goes to moneylenders the rates of interest charged by them is very high but since the borrower is in need he has no other option.
MONEY and CREDITS
279770
Tick the correct answer. Arun is one of the few people in Sonpur to take a bank loan because:
1 Other people in the village prefer to borrow from the moneylenders.
2 Banks demand collateral which everyone cannot provide.
3 Interest rate on bank loans is same as the interest rate charged by the traders. 1Mark
Explanation:
Banks demand collateral which everyone cannot provide. Arun is one of the few people in Sonpur to take a bank loan because it is necessary to provide collateral to the bank while borrowing and everyone in the village cannot provide collateral as Arun is able to do, therefore he can easily borrow having the capacity of paying the debts in future.
MONEY and CREDITS
279771
________ is an asset which serves as a unit of value, medium of exchange, standard of deferred payment and store of value.
1 Money
2 Currency
3 Monetary unit
4 Rupee 1Mark
Explanation:
Money Money refers to an asset in the economy that acts as a common medium of exchange issued under the law of government and acts as a legal tender for the whole country. The money possess that following characteristics.
MONEY and CREDITS
279774
The terms of credit comprise of _____.
1 Fixed deposit
2 Voter card
3 Collateral
4 Pan card 1Mark
Explanation:
Collateral Interest rate, collateral and documentation requirement and the mode of repayment together comprise what is called the terms of credit. They may vary depending on the nature of the lender and the borrower.
