Question

Write three advantage and disadvantage of formal and informal sector of credit

Answer 1

Answer:

Formal sector

1. Richer people having assets which can be pledged as collateral.
2. There are many sources such as bank and cooperative societies.

Informal Sector

1. poor people not having assets which can be pledged.
2. there are many sources in informal sources of credit such as traders, money lenders, and landowners etc..

Mark as BRAINLIST