Give any two examples of informal sector of credit
Asked by admin @ in CBSE BOARD X viewed by 432 People
Give any two examples of informal sector of credit
Answered by admin @
Heyya!
Informal sources:
(i) These include those small and scattered units which are largely outside the control of the government.
(ii) There is no organisation which supervises the credit activities.
(iii) They charge much higher rates of interest.
(iv) Their main motive is profit-making.
Example: Moneylenders, traders, employees, relatives and friends, etc.
Hope it helps!☺️
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