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what is difference between formal and informal sector

Posted by Garry Gill 6 years, 10 months ago

CBSE > Class 10 > Social Science

1 answers

Suraj Singh 6 years, 10 months ago

Formal sector of credit is a sector which include the authorised lenders who lend loans with low rate of interest than informal sectors . Informal sector of credit is a sector of credit which includes the unauthorised lenders such as village moneylenders, rich farmers , etc.

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