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Kannaki
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Asked: 2021-01-15T10:09:54+00:00 In:

Review any three merits and any two demerits of ‘formal sector of credits’ in India.

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NCERT Important Questions for Class 10 Social Science Economics Chapter 3
Social Science Class 10 Economics
Money and Credit 3
Important Questions
Long Questions

2020-2021cbsechapter 3class 10economicsmoney and creditncertsocial science
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      Merits

      1. Helps to meet the working capital needs of production.
      2. Helps in completing production on time.
      3. Low interest rate.
      4. Helps in increasing earnings.

      Demerits

      1. Difficulty in obtaining loans.
      2. Collateral issues.
      3. Documentation could be a problematic issue for few.

      For more answers visit to website:
      https://www.tiwariacademy.com/ncert-solutions/class-10/social-science/

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