distinguish between formal and informal credit resources
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Hey mate here is your answer.
FORMAL SECTOR LOAN:-
1) comparatively rate of interest charged is lower than that of the informal sector loans.
2) RBI supervises their function of given loans.
3) collateral is required to obtain credit.
4) rich urban households depend largely on formal sector.
INFORMAL SECTOR LOAN:-
1) Higher rate of interest are charged.
2) No organisation is there to supervise it's leading activities.
3) They are ready to give without collateral.
4) Poor households largely depend on informal sources.
Hope it will help you.
Mark it as brainlist
FORMAL SECTOR LOAN:-
1) comparatively rate of interest charged is lower than that of the informal sector loans.
2) RBI supervises their function of given loans.
3) collateral is required to obtain credit.
4) rich urban households depend largely on formal sector.
INFORMAL SECTOR LOAN:-
1) Higher rate of interest are charged.
2) No organisation is there to supervise it's leading activities.
3) They are ready to give without collateral.
4) Poor households largely depend on informal sources.
Hope it will help you.
Mark it as brainlist
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