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| 1. |
What is formal and informal sectors of loan explain with example? |
| Answer» Formal mean control by govt and give in a medium rate of interest but need more collateral In informal no need of any collateral but need to pay high interest rate eg: if a man need money for starting any business he will go to the bank for loan(formal) but they ask many documents,security etc...but in (informal)no need of documents at last he can\'t repay amount! | |