Question

Why is the formal sector of credit better than the informal sector of credit?​

Answer 1

Answer:

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Explanation:

Formal sector is better than informal sector because: 1) Low rate of interest is charged in the formal sector whereas the informal sector charge high rate of interest.

2) Formal sector is more systematic in functioning as compared to informal sector.

Answer 2

Answer:

Formal sector is better than informal sector because:

1) low rate of interest is charged in the formal sector whereas the informal sector charge high

rate of interest.

2) formal sector is more systematic in functioning as compared to informal sector.

Explanation:

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