Informal sources of credit are more convient and people friendly .Justify.
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1)People take loans mostly in informal credit because they find it easy to take loans from their friend and relatives and hence they do not have to provide legal information.
2)It takes much time for formal credit to provide loan as it is long process and hence people do not go through it.
3)Many people think that the money they borrowed can be returned anytime they want.
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