Choose the given statement as true/false:

In order to get low-cost loans, customers might get assistance from cooperatives and banks.

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Detailed Solution

The above statement is true.
People can get low-cost loans with the aid of cooperatives and banks. This will assist people in raising crops, conducting commerce, setting up small-scale companies, or trading items, and indirectly aiding the nation's growth. They ought to do this to prevent relatively poor people from relying on reliable information sources regarding formal sector loans. Additionally, everyone must receive these loans.
Wealthy households currently receive formal credit, whereas the impoverished rely on informal sources. Formal credit must be allocated fairly so that the underprivileged can benefit from the more affordable loans.

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