Question

What are formal sector loan

Answer 1

Answer:

Money and Credit

(i)Formal sector loans are such loanswhich are taken either from the banks or the co-operatives. While informalsector loans are those which are taken from moneylenders, traders, employers, relative and friends. (ii)In the case of informal sector of loans, the rate of interest is quite high.

Answer 2

Answer:

this is your answer

Explanation:

i I hope it helps u