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Why is informal sector more popular among the rural areas? |
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Answer» This is more common in rural areas because it does not need any paperwork and all different kinds of ID adhar card pass book etc rural people do not have these so they are not able to take loan from bank instead they take from informal sector such as village laminates and rich people at high rates of interest if they are not able to pay back the money the loan giver takes their land or cattle or something like that and they take on giving loan to people and the people get into debt trap No paper work is needed. |
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