What are the differences between formal …
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Posted by Jagannath Nandi 5 years, 7 months ago
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Meghna Thapar 5 years, 7 months ago
The formal source of credit provide loans comparatively at the lower rate and collateral is required to obtain loan. It is supervised by RBI. It includes banks and cooperatives. Informal sources. Information from informal sources can include conversations with colleagues at lunch or from friends or other associates external to your company. The formal sector consists of the businesses, enterprises and economic activities that are monitored, protected and taxed by the government, whereas the informal sector is comprised of the workers and enterprises that are not under government regulation.
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