Question

50 Points....❤❤



Define Formal Sector and Informal sector.....

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Not need long answer...

Answer 1

$\textbf{Hello!!}$

$\textbf{Dear \: Ankush!!}$

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$\text{Formal \: sector - }$

The formal sector comprises of banks and cooperatives.

Banks give loans not just to profit making traders but also to small cultivators at intrests rate.

$\text{Informal \: sector - }$

Informal sector consist of money lenders and friends , relatives , merchants and landlords.

The cost to borrower of informal loans is much higher.

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$\textbf{Thanks}$

Answer 2

$\textbf{ \underline{Formal \: sector - } }$

The formal sector comprises of banks and cooperatives.

Banks give loans not just to profit making traders but also to small cultivators at intrests rate.

$\textbf{ \underline{Informal \: sector - }}$

Informal sector consist of money lenders and friends , relatives , merchants and landlords.

The cost to borrower of informal loans is much higher.