Social Sciences, asked by Anonymous, 9 months ago

What are the drawbacks or disadvantages of Formal sector loans/lending present currently in India? Please help, thanks.

Answers

Answered by ajesh55

1

Answer:

1. The procedure to get the loan is time consuming.

2. They require collateral security.

Informal sources of credit

Landlords, traders, moneylenders, employers, friends and relatives are informal sources of credit.

Explanation:

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