Why are formal sources of credit preferred over the informal source of credit? Give three reasons 0?
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HEY MATE.....
HERE IS THE ANSWER
▶️FORMAL SOURCES PROVIDE LOAN AT A LESS RATE OF INTEREST THAN INFORMAL.
▶️IT GIVES LOAN EVEN TO THE POOR AND LANDLESS FARMERS.
▶️FORMAL SOURCES ARE Routinely CHECKED BY RESERVE BANK OF INDIA. ♦️
♦️♦️HOPE YOU UNDERSTOOD ♦️♦️
FOLLOW ME AND MARK ME BRAINLIEST
HERE IS THE ANSWER
▶️FORMAL SOURCES PROVIDE LOAN AT A LESS RATE OF INTEREST THAN INFORMAL.
▶️IT GIVES LOAN EVEN TO THE POOR AND LANDLESS FARMERS.
▶️FORMAL SOURCES ARE Routinely CHECKED BY RESERVE BANK OF INDIA. ♦️
♦️♦️HOPE YOU UNDERSTOOD ♦️♦️
FOLLOW ME AND MARK ME BRAINLIEST
Answered by
0
Answer:
HEY MATE.....
HERE IS THE ANSWER
▶️FORMAL SOURCES PROVIDE LOAN AT A LESS RATE OF INTEREST THAN INFORMAL.
▶️IT GIVES LOAN EVEN TO THE POOR AND LANDLESS FARMERS.
▶️FORMAL SOURCES ARE Routinely CHECKED BY RESERVE BANK OF INDIA. ♦️
♦️♦️HOPE YOU UNDERSTOOD ♦️♦️
FOLLOW ME AND MARK ME BRAINLIES
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