Q. 14.3( 10 Votes )

Write any two problems face while talking credit from informal sources.

Answer :

A higher rate of interest and the huge cost of borrowing


The credit from the informal source is the getting loans from the money lenders, relatives and many other therefore it will not have any code of conduct and they will charge any rate of interest which will lead to huge cost the borrowers to repay, and lenders can easily exploit the borrowers.


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