Social Sciences, asked by nicki23, 6 months ago

6. Explain briefly the formal sources of credit.

Answers

Answered by llTheVeerll

Answer:

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

nicki23: thanks

llTheVeerll: ok bro:)

Answered by shamaera14514

Answer:

```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.```

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