Question

explain the importance of formal sector loan for economic development of the nation​

Answer 1

Answer:

Explanation:

@SNEHASINGH

9cb650d0f02bf07f6235e4b3074db79c.pdf

Answer 2

RBI supervises its functioning

Charge low rates of interest

Main motive is social welfare

Proper terms of credit are followed

Means the procedures r done through transparency and formal sector helps in economic development