Which of the following is not an informal source of credit?*1 point(a) Money-lender(b) Relatives and Friends(c) Commercial Banks(d) Traders
Question
Solution 1
The answer is (c) Commercial Banks. Commercial Banks are formal sources of credit. They are regulated by the central bank and follow a set of rules and regulations. Informal sources of credit are those that are not regulated by any financial authority, like money-lenders, relatives and friends, and Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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