Question

Mention the characteristic of the formal and informal sources of credit in India.

pls​

Answer 1

Answer:

Features of informal sources of credit are :

(a) Informal sources of credit are moneylenders, traders, employers, relatives, friends etc. (b) There is no government or private organisation that manages or check the credit activities performed by informal sources.

Explanation:

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Answer 2

Answer:

Explanation:

Features of informal sources of credit are :

(a) Informal sources of credit are moneylenders, traders, employers, relatives, friends etc. (b) There is no government or private organisation that manages or check the credit activities performed by informal sources.