Question

distinguish between formal and informal sector with examples​

Answer 1

Formal-

1.reserve bank of India look into their functioning

2.low interest rates

3.cannot use unfair means to get the money back

4.for ex. Banks ,cooperatives

Informal-

1. No one supervise their functioning

2.high interest rates

3.can use unfair means to get their money back

4.for ex.moneylenders