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Benefits of formal sources of credit

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Benefits of formal sources of credit

Posted by Gungun Garg 7 years, 4 months ago

CBSE > Class 10 > Social Science

2 answers

Gaurav Seth 7 years, 4 months ago

1. These institutions are regulated by the Reserve Bank Of India. Their rates of interest for loans are controlled. The rates and terms are fixed.

2. There is no exploitation by the lenders.

3. Everyone can take a loan that includes big businessmen as well as the small cultivators or borrowers.

4. The cost of borrowing is usually less.

0Thank You

Sreekar Yadlapalli 7 years, 4 months ago

Low interest rate as compared to informal sources of credit

0Thank You

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CBSE > Class 10 > Social Science