wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Question

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

A
banking
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
formal
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
informal
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
D
transaction by cheque
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
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

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
The Monetary System
ECONOMICS
Watch in App
Join BYJU'S Learning Program
CrossIcon