1. Which body supervises the functioning of formal sources of loans?
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Answer:
Reserve Bank of India (RBI)
The Reserve Bank of India (RBI) supervises the functioning of formal sources of credit in India. Two functions of RBI are as listed below: The RBI monitors the banks if they are actually maintaining required cash balance.
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Answer:
The Reserve Bank of India
Explanation:
The Reserve Bank of India supervises the functioning of formal sources of loans. Functions of Reserve Bank of India.
The supervision of the functioning of the formal sources of credit is necessary because the banks should not only provide loans to rich sections of society but also to poor people. Also, the banks should follow the right procedures of borrowing and lending money.
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