Question -
Answer -
On what basis will Manav decide whether to borrow from the bank or the moneylender? Discuss.
Answer: Manav wants to set up a small business. He needs to keep the below-mentioned things in mind while deciding whether to borrow money from a bank or money lender:
1. He needs to compare the interest rate charged by both the bank and the moneylender. Whoever charges less should be his option.
2. He needs to analyse whether he has all the eligible documents required by the banks to get his loan approved.
3. How he wishes to repay the lender.