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Question

A majority section of urban and rural poor avails credit from the _____ sector.

A
banking
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B
formal
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C
informal
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D
transaction by cheque
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Solution

The correct option is B informal
A majority section of urban and rural poor avails credit from the informal sector.
Informal sources of credit include:
  1. Employees
  2. Money Lenders
  3. Relatives and Friends

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