Given that a large number of people in our country are poor,does it in any way affect their capacity to borrow?

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Shvetika Sharma answered this

You can find the answer to your question at the below mentioned link.

https://www.meritnation.com/ask-answer/question/given-that-a-large-number-of-people-in-our-country-are-poor/money-and-credit/6278424

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Lazy Yash Lazyness answered this

yes ,it is if people get aware that only hard work get him money and they enjoyed life very comfortably by this.it affect the habit of borrow in country and also we should make people aware that borrowers lost his self respect and dignity and the people who borrow him any things indirectly make insult of him.

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Avinash Jadhao answered this

yes it affects as the poor people cannot show collateral in the bank to borrow money from bank. and they have to borrow from moneylenders which charge a very high interest rate.

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jonyjovinmathew... answered this

in our country we think most of them are poor but thats not true even beggars are having lacs and lacs of money.

we dont realise it.

Sindhura Daggupati answered this

Yes, poverty undoubtedly affects the capacity to borrow. This is because, to borrow people have to give collateral as security which is an asset. Poor people lack in providing collateral which affect their capacity to borrow.

Vigneshwer N answered this

yes,, as they are unable to provide a collateral for a credit..... Many people dont have an immovable property which has to be provided as a collateral.. also, they are unable to repay the loan.... many banks refuse to provide loans to these people... if they move towards the informal sector, they could not give such a high rate of intrest.. thus being poor affects their capacity to borrow loans If u find useful,, thumbs up..