Question

Higher rate of interest is charged in formal sector. (True/False)​

Answer 1

Answer:

The answer to your question is False.

Explanation:

Informal sector charge high rate of interest because there are no rules and regulations in informal sector . In formal sector the reserve bank see the functioning of banks but in informal sector there is no any officials that looks the functioning of the credit.

Answer 2

Answer:

False

Explanation:

In informal sector intrest rate is higher