Which of the following is considered an informal method of getting credit/finance?

Internet banking

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Branch visits

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Going to moneylenders

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Telebanking

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Solution

The correct option is C Going to moneylenders
Money lenders give a loan at a higher rate. The local moneylenders, relatives, friends and finance companies that grant a loan to the people in need at higher interest rates are informal lenders of credit.

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The informal source of credit does not include which one of the following?

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