Should there be a supervisor such as the Reserve Bank of India that lo – InterviewSolution

1.	Should there be a supervisor such as the Reserve Bank of India that looks into the loan activities of informal lenders? Why would its task be quite difficult?
Answer» Due to vast geographical conditions and diversified cultures the Reserve Bank of India cannot check or supervise informal credit. Most of the transactions are on oral agreement between the borrower and the lender. There will not be any registered transaction. Most of the cases a lot of black money is involved. Hence it is difficult for the RBI to supervise informal credit.

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