Question

Advantages of Formal
of Formal credit​

Answer 1

Answer:

• Low interest rate
• It is supervised by the RBI hence there is low chances of scam
• It helps people start business, trade or do something productive therefore benefits the country as well.

Answer 2

These institutions are regulated by the Reserve Bank Of. India.

Their rates of interest for loans are controlled.

There is no exploitation by the lenders.

Everyone can take a loan that includes big businessmen as. well as the small cultivators or borrowers.

The cost of borrowing is usually less.

HOPE IT HELPS YOU.

PLEASE MARK ME AS BRAINLIEST