Explain the difference between formal and informal credit
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Answered by
33
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.
Answered by
1
Answer:
the credit which are taken from government known as formal credit. the creditwhich are taken from relatives,friends,and from other relationships persons.
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