Practicing Success
According to you, which of the following is the correct categorization of various "Sources" of loans? |
Organised sector loans and inorganised sector loans Urban sector loans and rural sector loans Formal sector loans and informal sector loans All of the above |
Formal sector loans and informal sector loans |
People obtain loans from various sources. The various types of loans can be conveniently grouped as formal sector loans and informal sector loans. Among the former are loans from banks and cooperatives. The informal lenders include moneylenders, traders, employers, relatives and friends, etc. |