Question

what are the two major source of credit​

Answer 1

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The two major sources of formal sector credit in India are — commercial banks and cooperative societies. We need to expand formal sources of credit due to following reasons : (a) Informal sources of credit exploit the poors resulting in putting them into debt-traps.

Answer 2

The two major sources of formal sector credit in India are — commercial banks and cooperative societies. We need to expand formal sources of credit due to following reasons : (a) Informal sources of credit exploit the poors resulting in putting them into debt-traps.

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