Explain any two features each of formal sector loan and informal sector loan
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Explain any two features each of formal sector loan and informal sector loan
Explain any two features each of formal sector loan and informal sector loan
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• Formal sector loan is given by commercial bank whereas informal sector loan is given by money lenders, big merchants, etc.
• Formal sector loan required collateral where as informal sector loans does not require collateral.
• Formal sector loans has a low rate of interest where as informal sector loans has a very high rate of interest.