Difference between formal and informal sector 0
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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.
example of formal are banks and cooperatives.
example of Informal are moneylenders,traders,relatives.
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❛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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