Classification Regarding Ability to get a Loan
The criteria I have used for this classification are
(i) Does the borrower have the potential to repay the loan or not? People with a secure job or a running business will get a loan because they have the capability to repay the installments. Here the government servant and small trader will be successful, whereas the migrant labourer, household maid, construction worker and worker whose factory has closed down will not be successful.
(ii) Whether the borrower is able to pledge a collateral on which to guarantee the loan taken. Here the autorickshaw driver can pledge his autorickshaw to the bank and the graduate student can pledge anycapital asset owned by him.
These two are the basic prerequisites for getting a loan from a bank.