What are formal sources of credit mention any two features?
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Hey user
Here's your answer___
These sources of credit are registered by the government and have to follow its rules and regulations.
Features of Formal source of credit :-
_____________________________
☆RBI supervises the functioning of formal sources of credit.
☆They generally charge lower rates of interest.
☆Their main motive is social welfare.
Example: Banks and cooperatives.
Hope it helps☺☺
Regard
@Yusuf
Here's your answer___
These sources of credit are registered by the government and have to follow its rules and regulations.
Features of Formal source of credit :-
_____________________________
☆RBI supervises the functioning of formal sources of credit.
☆They generally charge lower rates of interest.
☆Their main motive is social welfare.
Example: Banks and cooperatives.
Hope it helps☺☺
Regard
@Yusuf
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