Question

describe the important of formal source of credit in economic development​

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

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