Social Sciences, asked by skmishra510p7xj0t, 6 months ago

Diffrentiate between formal sector credit and informal sector credit.
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Answers

Answered by Anonymous
3

Answer:

Formal Sector Loans: Include loans from banks and cooperatives. ... (ii) Formal sector strictly follows the terms of credit, which includes interest rate, collateral, documentation and the mode of repayment. Informal Sector Loans : Include loans from moneylenders, traders, employers, relatives, friends, etc

Explanation:

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Answered by mhammedismail63
0

Answer:

formal credit-These are those source of organization which are followed by the govt & follow certain rule & regulations,these have collateral security,lower internet in loans ex -In co- operative banks,society & etc.

Informal credit-These These comprises those organizations which are non government sector, higher Interest on loans & no security is provided to obtain loan ex- Land loards,money lenders,non-institutional agencies & etc.

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