Indian Polity · Polity Science
What is a primary advantage of local financial institutions in promoting regional development?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1They are less regulated, allowing for more flexible lending practices.
- 2They typically offer lower interest rates compared to national banks.
- 3They help retain wealth within the community and foster local entrepreneurship.✓
- 4They facilitate easier access to international markets for local businesses.
Correct answer
They help retain wealth within the community and foster local entrepreneurship.
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