What are inform source of credit? Mention any two features
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Informal sources of credit are those which are under the supervision of govt . institutions like RBI.
Feature-
*High rate of interest.
*Mainly for profit motive.*
*No fixed rate of interest and the rate of interest depends upon the lender.
Feature-
*High rate of interest.
*Mainly for profit motive.*
*No fixed rate of interest and the rate of interest depends upon the lender.
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