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What was the impact of the escalating unemployment rate on decreasing demand for credit?
unemployed youth was majorly from rural area hence they were unaware of existing yojna
lots of people were unable to get financial assistance due to bureaucracy
there was more credit urge in people for their daily bread
demand was decreasing as people were unsure about their repayment capability
None of these
Correct Option is demand was decreasing as people were unsure about their repayment capability
Solution:The most suitable answer is option (d). To validate this, refer last paragraph “If I am not sure of a regular salary in the immediate (or even distant) future, which affects my capacity to pay EMIs on these loans, however low they may be, I won’t take the risk of taking a loan. Moreover, even if there were takers for these loans, if the banks are burdened with bad loans as a result of past decisions, they may be wary of releasing credit.”
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