Answer: Difference between formal and informal sector loans:
FORMAL-
Explanation:• 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.
INFORMAL-
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Answer: Difference between formal and informal sector loans:
FORMAL-
Explanation:• 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.
INFORMAL-
HOPE YOU UNDERSTOOD............
PLEASE RATE MY ANSWER TO FULL AND MARK AS BRAINLIEST...................