Social Sciences, asked by mmjayavelan, 5 months ago

What is formal sector credit in India

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Answered by MissMiracle12

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Formal sector credit in India includes loans from banks and cooperatives. RBI supervises their functions of giving loans. Rich urban households depend largely on formal sources of credit. Lower rate of interest on loans is charged as compared to informal sources of credit.

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Answer by @Missmiracle12 ❤️

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