what ia formal and informal sector credit ?
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formal credits are by the govt., it has RBI's influence and control.....eg: credits by banks....
informal credits don't have any govt. influence....they are given by landlords, relatives,friends, financiers etc...they can use any illegal way to take back their money....
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Landlords, moneylenders, traders, relatives, friends and other sources ofcredit constitute the informal sector of credit.
The credit activities of the formal sector are supervised by the Reserve Bank of India.
The RBI givescredit to all at low interest rates. In thein formal sector there is no supervisory body.
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