ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Money-lender
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Relatives and Friends
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Commercial Banks
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Traders
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Detailed explanation-1: -Cooperative society is not an informal source of credit but formal.
Detailed explanation-2: -Thus, we can say that bank is not an example of an informal lender.
Detailed explanation-3: -Banks come under the formal sector. Even cooperatives are registered with the government and fall under the formal sector.
Detailed explanation-4: -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. Agriculture money lenders Among the former are loans from banks Traders and cooperatives.
Detailed explanation-5: -1. Banks and cooperative societies fall under the formal sector. One can obtain loans from banks or cooperative societies.