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Why are formal sources of credit preferred over the informal sources of credit |
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Answer» FORMAL Source of credit is type of credit which is taken from any authorized bank on a permanent interest of same value. But, In Informal Source of Credit the credit is taken from any unauthorized FACTORS like moneylenders, LANDLORDS who do not provide you a permanent interest of same value. While The interest RATES of credit are changeable. HOPE IT HELPS YOU. PLEASE MAKE IT BRILLIANT ANSWER THANK YOU |
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