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Question
Absence of _____ is one of the major reasons which prevent the poor from getting bank loans.
Absence of _____ is one of the major reasons which prevent the poor from getting bank loans.
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Solution
The correct option is C collateral
Collateral is a type of a security taken by the banks from its customers. It can be in the form of fixed deposit, property documents, etc. The savings of rural poor is negligible. Providing collateral to the bank for borrowing loans is a big challenge for them.
Collateral is a type of a security taken by the banks from its customers. It can be in the form of fixed deposit, property documents, etc. The savings of rural poor is negligible. Providing collateral to the bank for borrowing loans is a big challenge for them.
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