1. World problems
  2. Profit-oriented interest payments

Profit-oriented interest payments

  • Lack of mutual credit societies

Nature

Profit-oriented credit exchange systems results in rigidity in credit availability and terms, so that someone needing a loan for hospital bills may pay the same rate of interest as someone obtaining a loan to take a vacation. With a view toward maximizing a secure return on funds, extensive loan restrictions are placed on applicants, excluding needy applicants who cannot meet rigid credit requirements.

Broader

Aggravates

Strategy

Making profit
Yet to rate

Value

Profiteering
Yet to rate

SDG

Sustainable Development Goal #10: Reduced Inequality

Metadata

Database
World problems
Type
(D) Detailed problems
Subject
  • Commerce » Credit
  • Commerce » Currency
  • Commerce » Finance
  • Societal problems » Scarcity
  • Content quality
    Presentable
     Presentable
    Language
    English
    Last update
    May 20, 2022