Question

Functions of formal nd informal sector

Answer 1

Formal sector :-
1. formal sector sources are bank and cooperatives.
2. the banks and cooperatives charge less rate at all. whole about 10% per annum or so.
3. it result in more income and better condition of the borrower. these is improvement in his financial condition.
4. Reserve banks of India supervises the function of formal sources of loans.
Informal sectors :-
1. Informal sectors sources are moneylenders, traders, employers, relatives, friends, etc.
2. Informal sector sources charge highest interest rates such as 3 to 5% per month
3. Higher rate of interest result less income and poor income of borrowers. it sometimes leads to debt trap.
4. there is no organisation which supervises the credit activities of the lenders in the informal sector. they do what ever is in their interest.


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Answer 2

For many years, formal school science education has been criticised by students, teachers, parents and employers throughout the world. This article presents an argument that a greater collaboration between the formal and the informal sector could address some of these criticisms. The causes for concern about formal science education are summarised and the major approaches being taken to address them are outlined. The contributions that the informal sector currently makes to science education are identified. It is suggested that the provision of an effective science education entails an enhanced complementarity between the two sectors. Finally, there is a brief discussion of the collaboration and communication still needed if this is to be effective