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Compare and contrast the conditions for taking ban from formal and uniformal sources . suggest an alternative source that you think is bestfor the rural poor

Posted by Tavisha Sharma 6 years, 10 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 6 years, 10 months ago

Formal sector	Informal sector
Includes banks and cooperatives	Includes moneylenders, traders, employers, relatives and friends, etc
The Reserve Bank of India supervises the functioning of formal sources of loans	There is no organisation which supervises the credit activities of lenders in the informal sector
Charges a low interest rate	Charges very high interest rates
Cannot use unfair means	There is no one to stop them from using unfair means to get their money back

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CBSE > Class 10 > Social Science