Question

describe the importance of formal sources of credit in the economic development.
#supervision
#lower rate of interest
#cheap credit
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Answer 1

Answer:

Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more. Answer: Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more.

Answer 2

Answer:

Answer: Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more. Answer: Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more.

Explanation:

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