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Question
Radhe needs money. However, her bank would not give her a loan because she does not have a collateral. Suggest an alternate source of credit.
Radhe needs money. However, her bank would not give her a loan because she does not have a collateral. Suggest an alternate source of credit.
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Solution
The correct option is A Moneylenders
In the absence of a collateral, people go for informal sources of credit, which do not require any collateral. Informal sources of credit include loans from moneylenders, friends, traders, relatives, landlords, and employers.
In the absence of a collateral, people go for informal sources of credit, which do not require any collateral. Informal sources of credit include loans from moneylenders, friends, traders, relatives, landlords, and employers.
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