Difference between formal and informal sector 0
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formal letter means a letter that u write to principal ,teacher editor of a newspaper.
Informal letter means a letter that u write to your parents,relatives and friends.
Informal letter means a letter that u write to your parents,relatives and friends.
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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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