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प्रश्न
Distinguish between formal and informal sources of credit.
उत्तर
| Formal sector of credit | Informal sector of credit |
| RBI monitors the formal sector of credit. | There is no organisation which supervise the credit activities of lenders. |
| They charge a normal interest rate on loans. | They can lend at whatever interest rate they choose. |
| E.g., Banks and cooperative societies. | E.g., Local money lenders, traders and relatives etc. |
APPEARS IN
संबंधित प्रश्न
"Cheap and affordable credit is crucial for the country's development." Assess the statement.
Which of the following is not an informal source of credit?
In which country is the Grameen Bank meeting the credit needs of over 6 million poor people?
Which households take more loans from the formal sector?
Formal Sources of credit include ______.
Rate of interest charged by moneylenders as compared to that charged by banks is ______.
The RBI monitors the banks are actually maintaining ______.
Cheap and affordable credit is crucial for ______.
About 85 percent of the loans taken by poor households in the urban areas are from ______.
Explain the significance of The Reserve Bank of India in the Indian economy.
