Saved Bookmarks
| 1. |
What is informal sector credit |
|
Answer» Banks and cooperative societies constitute the formal sector of credit. Landlords, moneylenders, traders, relatives, friends and other sources of credit constitute the informal sector of credit. The credit activities of this sector are only driven by profit with much higher interest rate. When loan is taken from money lenders , merchant, realtives , freinds, without any use of collateral |
|