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What is the difference between formal …

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What is the difference between formal and informal sector in a point answer
  • 4 answers

Ayush Verma 5 years, 6 months ago

Rich people prefer to formal sector and poor people refer to informal

Ayush Verma 5 years, 6 months ago

Formal sector includes RBI,ICICIbanks and informal sector include moneylender, traders etc.

Ayush Verma 5 years, 6 months ago

In formal sector there is collateral and in informal there is no collateral

Akshat Rajurohit 5 years, 6 months ago

In easy way we can say that formal sector is goverment sector or informal is private explain it in the question
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