Question

What are the drawbacks of informal sector loans?​

Answer 1

Answer:

DRAWBACKS :–

• Intrest is very high as compared to formal sector.
• Not runned or looked after or controlled by any community or organisation.
• Not as much safe and secure.

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Answer 2

Explanation:

Drawback of informal sector lone are–

.It charges high rate interest.

.Informal sectorsmake loans very expensive as they are no external organizations controlling the credit activities of lenders.

.Little or no job security.

.Unprotected by labour laws.

.Odd working hours.

.No pension, insurance or health insurance scheme.

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