Home › UP Board Class 10 › Social Science › c10moneycredit › The TERMS OF CREDIT for a loan include all of th…
The TERMS OF CREDIT for a loan include all of the following EXCEPT:
AThe borrower's family size and number of children
BThe interest rate at which money is lent
CCollateral or security demanded by the lender
DMode and time period of repayment of the loan
Answer & Solution
Correct answer: A. The borrower's family size and number of children
Terms of credit include interest rate, collateral, documentation, mode of repayment, and time period. The borrower's family size is not part of formal credit terms.
Related questions
Banks lend to poor women in SHGs even though they have no:Interest charged by a Self Help Group is compared with that of the:Self Help Groups are formed particularly among rural:A typical Self Help Group has how many members?What share of rich urban households' loans is from informal sources?What share of loans to poor urban households comes from informal sources?Who supervises the credit activities of informal lenders?Who supervises the functioning of formal sources of loans?