CBSE Class 10 Answered
situations with high risks credit might create further problems for the borrower. explain.
Asked by psukhman672 | 06 Jan, 2022, 07:00: PM
Expert Answer
The situations with high risks credit might create further problems for the borrower due to the following reasons:
- The borrowers have to pay interest on principal as well on interest to lenders.
- If the borrowers’ default in payment, then the lender may sell the assets of the borrowers to recover the money. This may further create problems for the borrowers.
- In case of farming, the uncertainty of rainfall and bad harvest pushes the farmer into debt trap as he/she is unable to repay the loan and is in risk of losing his/her land. In this case, instead of helping farmers prosper, the credit could make the situation worse.
Answered by Social Science Expert | 14 Jan, 2022, 02:51: AM
CBSE 10 - Social Studies
Asked by kamalahmad9095 | 25 Jan, 2023, 08:12: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by paliwalkush258 | 23 Jan, 2023, 06:30: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by akshay9122568823 | 18 Jan, 2023, 09:27: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by parmjeetsingh2492 | 12 Jan, 2023, 07:15: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by priyankakiran2017 | 09 Jan, 2023, 07:44: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by priyankakiran2017 | 09 Jan, 2023, 07:43: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by priyankakiran2017 | 09 Jan, 2023, 07:41: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by babli57996 | 07 Jan, 2023, 03:12: PM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by sonunath | 17 Oct, 2022, 05:46: AM
ANSWERED BY EXPERTCBSE 10 - Social Studies
Asked by bhu.joshi54 | 07 Aug, 2022, 09:58: PM
ANSWERED BY EXPERT