Describe the important of formal source of credit in economic developm – InterviewSolution

1.	Describe the important of formal source of credit in economic development
Answer» Formal sources of credit gives money at less interest rates as COMPARED to informal sector so the PROFIT which the BORROWER earns is more. ANSWER: Formal sources of credit gives money at less interest rates as compared to informal sector so the profit which the borrower earns is more.

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