formal sources of loan is superised by which government body and Explain it 's functioning . { 5 marks }
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Formal sources of load is supervised by RESERVE BANK OF INDIA in India.
It looks after the small amount money which banks keep to give to the withdrawer. it also looks at the interest at which the bank provides loans to people.It supervises the equitable distribution of loans to rich and poor.
A receipt has to be given to the Reserve Bank from the banks so that it can supervise that bank provides loan not only to the big businessmen for their own profit.
HOPE THIS HELPS.
It looks after the small amount money which banks keep to give to the withdrawer. it also looks at the interest at which the bank provides loans to people.It supervises the equitable distribution of loans to rich and poor.
A receipt has to be given to the Reserve Bank from the banks so that it can supervise that bank provides loan not only to the big businessmen for their own profit.
HOPE THIS HELPS.
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