formal lenders

What Are Formal And Informal Credit?

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What Are Formal And Informal Credit? Banks and cooperative societies constitute the formal sector of credit. Landlords, moneylenders, traders, relatives, friends and other sources of credit constitute the informal sector of credit. … The RBI gives credit to all at low interest rates. In the informal sector there is no supervisory body. What are informal

What Are Formal And Informal Sources Of Information?

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What Are Formal And Informal Sources Of Information? What is the difference between formal and informal information sources? Formal sources may be defined as those which are constituted in some regularized or legal manner in relation to the user, whereas informal sources have no such basis. What are formal and informal resources? Informal resources are