Which statement is correct regarding this type of sector credit in India?
(a) The Reserve Bank of India supervises the functioning of formal sources of loans
(b) These include moneylenders, traders, employers, relatives and friends etc.
(c) There is no organization which supervises the credit activities of lenders.
(d) They charge a much higher interest on loans
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Answer:
Correct answer is option (a) The Reserve Bank of India supervises the functioning of formal sources of loans
Explanation:
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