Social Sciences, asked by ankitsesma2005, 10 months ago

mention any three fealures of formal sector credit​

Answers

Answered by fazaltraders2929
0

Features of formal sector loans are : (i) Formal sectors provide cheap and affordable loans and their rate of interest is monitered by RBI. (ii) Formal sector strictly follows the terms of credit which includes interest rate, collateral, documentation and the mode of repayment.

Answered by kssuriya01
0

Answer:

1.Without collateral, loans will not be given in formal sector

Explanation:12.Formal sector offers loans in a fair interst rate

3.Formal sector maintains proper documentation of loans.

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