Why do you poor households reply on informal credit till today

1.	Why do you poor households reply on informal credit till today
Answer» FORMAL sources of CREDIT prefer over informal because final sources comprises of government ORGANIZATIONS and COLLATERAL security, lower interest rates on its loans LIKE co- operative bank & RBI but Informal sources comprises higher Interest on its loans does not provide collateral security & no organisation to supervise this sector ex- friends,relatives,money landers & etc.

Answer»

FORMAL sources of CREDIT prefer over informal because final sources comprises of government ORGANIZATIONS and COLLATERAL security, lower interest rates on its loans LIKE co- operative bank & RBI but Informal sources comprises higher Interest on its loans does not provide collateral security & no organisation to supervise this sector ex- friends,relatives,money landers & etc.

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Why do you poor households reply on informal credit till today

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