Question
Which of the following are requirements for the classification of a credit agreement between a cooperative financial institution and an individual as a developmental credit
Which of the following are requirements for the classification of a credit agreement between a cooperative financial institution and an individual as a developmental credit agreement?
i. The cooperative extending the loan must be registered as a provider of developmental credit.
ii. The dominant reason for the cooperative entering into the agreement should not be profit.
iii. The principal debt under the agreement should not exceed the prescribed amount of R25000.
iv. The loan is only extended to a member of the cooperative financial institution.
(i) and (ii) only
(i), (ii) and (iv) only
(ii), (iii) and (iv) only
None of the options
(i), (iii) and (iv) only
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