Question

what are the differed between formal and informal sources of credit

Answer 1

Formal
1. these functioning of these banks and co- operative institutions are supervisor by reserve bank of India - RBI.

2. Borrower is required to submit collateral and document.

informal
1. They are not supervised by Reserve bank of India - RBI.

2. Borrower in not required to submit collateral and document.

Answer 2

$\textbf{Answer is in Attachment !}$