Please answer the question in 50-100 words?
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MERITS
•The RBI supervises the functioning of formal source of loans.
•Collateral is required to obtain credit.
•Rate of interset is lower than that of the informal loans.
•The RBI supervises the functioning of formal source of loans.
•Collateral is required to obtain credit.
•Rate of interset is lower than that of the informal loans.
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