Question

what is the difference between formal and informal sector loan

Answer 1

$\Huge\bf\purple{\mid{\overline{\underline{ANSWER}}}\mid}$

$\Huge\green{{\mathfrak{FORMAL\: SECTOR}}}$

➜ All the public sector establishments and those private sector establishments, which employe 10 hired workers or more are called as Formal sector establishments and the workers working in these establishments are called formal sector workers .

$\Huge\red{{\mathcal{INFORMAL\: SECTOR}}}$

➜ All the other Enterprises and workers who do not work in formal sector are called informal sector workers .

➜ The informal sector includes in millions of farmers, agricultural labourers, owners of small Enterprises and working in those Enterprises self employed who do not have any hired workers

Answer 2

♠♠$\huge\mathfrak\red{Bonjour\:Mate }$♠♠

$\huge\mathfrak\orange{Answer :}$

$\huge\bold\pink{Formal \: Sector\:Loan}$

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i) They are supervised by the reserve Bank of India .

ii) They consists of the loan from bank and cooperative

iii) It provide loans at fixed rate and the term

iv) It compressor 52% of the total loan given in the country .

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$<i><b>$

$\huge\bold\blue{Informal\: Sector\:Loan}$

i) they are not supervised by RBI

ii) They get loans from moneylenders relatives and friends .

iii) It does not provide Loan at fixed rate and term

iv) It gives loans only for making profit

v) It comprises 48% of credit in the country .

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