Question

Which loan is better formal sector or informal sector?Why?

Answer 1

Explanation:

Formal sector loaning agency comprises the Banking sector, Micro finance institution, self help groups and so on. They are legally registered and lends at the reasonable rate of interest. Their loan amount collection is in formal way and exploitation of the deprived people is relatively less than the informal sector.

Answer 2

Answer:

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Explanation:

Formal sector loaning agency comprises the Banking sector, Micro finance institution, self help groups and so on. They are legally registered and lends at the reasonable rate of interest. Their loan amount collection is in formal way and exploitation of the deprived people is relatively less than the informal sector.