Describe any two sources each
of formal and informal credit in india
Answers
Answered by
0
Answer:
Formal sources of credit are provided by banks and cooperative societies to the borrowers. - Reserve Bank of India(RBI) governs the functioning of formal source of credit. ... - Informal sourcesof credit are moneylenders, traders, employers, relatives, friends etc.
Answered by
1
Answer:plz mark me as brainlist
Explanation:
There are a two main sources of credit in India. (ii) Informal sources - e.g. Money lenders, traders. (i) It provides loans at a fixed rates and terms. (ii) It gives loans not just to profit-making businesses and traders but also to small cultivators, small-scale industries to small borrowers etc
Similar questions