Question

formal sector loans thee points​

Answer 1

Formal Sector Loans: Include loans from banks  and cooperatives. Features of formal sector

Loans are :

(i) Formal sectors provide cheap and affordable  loans and their rate of interest are monitored by  Reserve Bank of India.

(ii) Formal sector strictly follows the terms

of credit, which includes interest rate,  collateral, documentation and the mode of  repayment.

Answer 2

Hey Mate...

Formal sources: (i) They follow those sources of credit, which are registered by the government and have to follow its rules and regulations.(ii) RBI supervises the functioning of formal sources of credit.(iii) They generally charge lower rates of interest

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#Nisha