Question

Krishna is working in the neighbouring field with very less wages expenses on Saturday in this or functions in the family are also metro lose the land owner charges and interest rate of 5% per month at present she owns the land owner Rs.5000

analyse the credit arrangement given above

Answer 1

Informal Sources of Credit

Explanation:

• Informal credit activity includes lending to 'relatives , friends, landowners, households, merchants, tenants, artisans, producers, municipal customers, selling intermediaries, suppliers and other municipal income groups, typically in the short term.."
• Numerous forms of non-institutional debt accumulation and debt expansion are found in informal loans. While there are informal lending markets in cities, the term is popular on regional and informal lending markets where organised lending is neither viable nor adequate for local professionals' requirements.
• No State or private agency is interested in informal credit services management or monitoring. The credit conditions are flexible for borrowers' personal advantage. They typically charge higher interest rates and use the customers to support themselves..

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what are informal sources of credit mention any two features ...

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