Formal and informal sector 4 points
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formal sector :
1. comparatively rate of interest charged is lower than that of the informal sources.
2. RBI supervises their function of giving loans.
3. collateral is required to obtain credit.
4. rich urban households depend largely on formal source of credit.
informal sector :
1. higher interest rates on loan is charged.
2. no organisation is there to supervise its lending activities.
3.they are ready to give loans without collateral.
4. poor household are largely depend on informal sources.
1. comparatively rate of interest charged is lower than that of the informal sources.
2. RBI supervises their function of giving loans.
3. collateral is required to obtain credit.
4. rich urban households depend largely on formal source of credit.
informal sector :
1. higher interest rates on loan is charged.
2. no organisation is there to supervise its lending activities.
3.they are ready to give loans without collateral.
4. poor household are largely depend on informal sources.
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