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What are differences between informal and formal sector of loans? 3 points |
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Answer» Becoz it is the govt. Organisation under which it works.the govt. Had given power to it. Why RBI supervises formal sector of credit. Formal-1.these resources work under thesupervision of RIB.2.they charge low rate of interest.3.they follow rules and regulations formed by the government.Informal-1.they don\'t work under any govt. organisation.2.they charge a high rate of interest.3.they don\'t follow any rules and regulations. |
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