Question

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Answer 1

• Formal sources follow the sources of credit that are registered by the govt. and have to follow its rules and regulations whereas in informal sources include those small and scattered units which are largely outside the control of the government.

• three points of distinction between formal sector loans and informal sector loans. FORMAL sector loan include banks and cooperatives whereas, the informal lenders includes money lenders, traders, employees, relatives and friends.

Answer 2

Explanation:

see this attachment

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