Question

Difference between formal and informal sources of credit​

Answer 1

Answer:

Formal sources follow the sources of credit that are registered by the govt. and have to follow its rules and regulations whereas in informal sources include those small and scattered units which are largely outside the control of the government.

Explanation:

Answer 2

$\bf\blue{Answer : }$

Formal sectors represent all jobs with specific working hours and regular wages and the worker's job is assured. Conversely, informal or unorganized sectors are the ones where the employees or the workers do not have regular working hours and wages and are exempted from taxes.