Most of the small farmers like Sunil don't take loans from formal sectors. Which of the
following statements about this sector is correct-
a. The collateral is an asset owned by the lender.
b. If the borrower fails to repay the loan, the lender has right to sell the assets.
c. Formal sector of credit doesn't require proofs of documentation.
d. Formal sector doesn't follow rules set by the government.
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Answer:
a part
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