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Distinguished between formal source of credit …

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Distinguished between formal source of credit and informal source of credit.

    • Posted by Om Yadav 6 years, 6 months ago

    CBSE > Class 10 > Social Science
    • 7 answers

    ?Life Is A Song, Love Is The Music? 6 years, 6 months ago

    And last point, RBI supervises formal sector whereas in informal sector, there is no organization to supervise them.?

    0Thank You

    ?Life Is A Song, Love Is The Music? 6 years, 6 months ago

    Collateral , documentation and many formalities is must for getting a loan from a formal sector. Whereas in informal sector, they are ready to give loans without any collateral, documents etc.

    0Thank You

    ?Life Is A Song, Love Is The Music? 6 years, 6 months ago

    In formal source of credit, comparatively rate of interest charge is lower and in informal source of credit, higher rate of interest is charged.

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    ?Life Is A Song, Love Is The Music? 6 years, 6 months ago

    Moneylender*?

    0Thank You

    ⛩️Singh Empire? (Believe In Study) 6 years, 6 months ago

    Lender***

    0Thank You

    ⛩️Singh Empire? (Believe In Study) 6 years, 6 months ago

    Its money lander***.....sorry

    0Thank You

    ⛩️Singh Empire? (Believe In Study) 6 years, 6 months ago

    Bank is formal source and local money is informal......

    0Thank You

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