explain the formal and informal sector of credit
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Banks and cooperative societies constitute the formal sector of credit. Landlords, moneylenders, traders, relatives, friends and other sources of credit constitute the informal sector of credit. ... The credit activities of the formal sector are supervised by the Reserve Bank of India.
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Answer:
Banks and cooperative societies constitute the formal sector of credit. Landlords, moneylenders, traders, relatives, friends and other sources of credit constitute the informal sector of credit. ... The credit activities of the formal sector are supervised by the Reserve Bank of India.
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