Question

short introduction on roles of informal and formal sector of credit be quick I need it right now it's urgent please besties
class 10 economic


gonna report the useless ones ​

Answer 1

Explanation:

Formal Sector Credit in India

Formal loans include the money borrowed from banks and cooperatives. The informal lenders include moneylenders, traders, employers, relatives and friends, etc. The Reserve Bank of India supervises the functioning of formal sources of loans.

The informal sector represents a fundamental component of the economic structure of many developing countries. Informal sector enterprises are a key form of organization of production and an important provider of employment and income opportunities in both rural and urban areas.

Answer 2

Check this __________________