Economy, asked by nehatomar1754, 1 year ago

Difference between formal and informal sector 0

Answers

Answered by Nehakalher1
1
formal sector belongs to the govt. while informal sector doesnot belongs to govt.
example of formal are banks and cooperatives.
example of Informal are moneylenders,traders,relatives.
Answered by yakshitakhatri2
1

❛Answer ❜

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Formal sector ↓

✍︎ Supervised by R.B.I

✍︎ Fixed + Low interest Rate

✍︎ e.g. Banks

Informal sector ↓

✍︎ No organisation supervises these credit activities

✍︎ High + no fix interest Rate

✍︎ e.g. Friends, traders, moneylenders, etc.

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