Question

Write the 2 informal source of credit.Give 2 reasons why people depend on informal sector.

Answer 1

1 Trader

2 Moneylender ;;Relatives

Reasons

1 People havery not enough credit than the lending money

2 In village people have no other source of credit because credit want some colletral which the poor people don't

Credit plays an important role in developing of an nation

Answer 2

Informal sources of credit are moneylenders , traders , relatives and friends .

They require no collateral.

People are free to take loans even after not paying their earlier loans.

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