Question

difference between formal sector informal sector in three points​

Answer 1

Hey...
• Formal sector loan is given by commercial bank whereas informal sector loan is given by money lenders, big merchants, etc.
• Formal sector loan required collateral where as informal sector loans does not require collateral.
• Formal sector loans has a low rate of interest where as informal sector loans has a very high rate of interest.
Hope this would help you.
Mark it as brainliest if you like.

Answer 2

formal Sector :-

In this sector The Job is secure.

Proper Wages are given.

We can put a leave application for leave for some days and our money is not deducted.

Informal Sector :-

Jobs aren't Secure

Not Proper Wages

Can't take leave if we take leave then our money is deducted .