Chapter 3

NCERT
Class 10
Economics
Solutions
7. What are the reasons why the banks might not be willing to lend to certain borrowers?
Promo GIF

Question:

What are the reasons why the banks might not be willing to lend to certain borrowers?

Answer:

Banks are not ready to give loans to some borrowers, there are some special reasons for this -

(i) Some people do not have any property to pledge in the bank which they can keep as a guarantee.

(ii)Some people are not in a position to repay the loan in time.

(iii) Some people are already so much in the clutches of credit, that's why the bank does not want to give more loans to those people.

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