ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Formal sector loan sources are ____
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Money lenders, friends, relatives
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Land owners, employers
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Banks, Cooperative societies, SHGs
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Reserve Bank of India, The World Bank
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Explanation:
Detailed explanation-1: -Formal sector credit are those that are supervised by the government and the Reserve Bank of India (RBI). Banks come under the formal sector. Even cooperatives are registered with the government and fall under the formal sector.
Detailed explanation-2: -Shg is not formal source of credit . It is group of people.
Detailed explanation-3: -The Cooperatives and various types of loans commercial banks can be conveniently Government and grouped as formal other formal sources sector loans and Professional and informal sector loans.
Detailed explanation-4: -The formal sector loans consist of the banks and the cooperatives. The informal sector consists of money lenders, traders, employers, etc.
There is 1 question to complete.