Question

what is the feature formal and informal credit.​

Answer 1

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Formal sector loans include loans from banks and cooperatives. ... Informal sector loans include loans from moneylenders, traders, employers, relatives, friends etc. Features for informal sector loans are : (i) Their credit activities are not governed by any organisation, therefore they charge higher rate of interest

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Answer 2

Answer:

Formal sector loans include loans from banks and cooperatives. ... Informal sector loans include loans from moneylenders, traders, employers, relatives, friends etc. Features for informal sector loans are : (i) Their credit activities are not governed by any organisation, therefore they charge higher rate of interest.