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Q.

Choose the given statement is True/False


Banks offer loans more to a rich household


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a

True

b

False 

answer is A.

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Detailed Solution

The given statement is correct.
Banks offer more loans to the rich household on account of the following reasons:
1)      Rich people take out loans to invest in the economy by setting up businesses, opening new projects, etc. As a result, this process helps in the growth of the economy.
2)      Rich people pay off their loans on time, whereas the poor most of the time, cannot pay off their loans.
3)      Most banks are set up in urban areas, so It has become easier for them to give loans to such people.
4)      Rich people have a high value of the collateral.
 
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