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What is informal sector credit

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What is informal sector credit

Posted by Harojit Saha 3 years, 11 months ago

CBSE > Class 10 > Social Science

2 answers

Sia ? 3 years, 11 months ago

Banks and cooperative societies constitute the formal sector of credit. Landlords, moneylenders, traders, relatives, friends and other sources of credit constitute the informal sector of credit. The credit activities of this sector are only driven by profit with much higher interest rate.

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Chhavi Soni 3 years, 11 months ago

When loan is taken from money lenders , merchant, realtives , freinds, without any use of collateral

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Posted by Shristi Pandey 1 month, 2 weeks ago

CBSE > Class 10 > Social Science