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

Why are formal sources of credit preferred over informal sources? Choose the MOSTappropriate reason.1a. high interest rates for borrowingb. low cost of borrowingc. debt trapd. no organisation supervises the credit activities of lenders

Which of the following is a source of a less formalized loan?Finance companyPayday lenderFamily member or friendBank or credit union

Assertion (A): Non-institutional finance forms an important part of rural credit.Reasoning (R): Small farmers are unable to access bank credit because of borrowers’ unfriendly products. Options:(i) (A) is true, but (R) is False(ii) (A) is false, but (R) is True(iii) Both (A) and (R) are true and (R) is the correct explanation of A(iv) Both (A) and (R) are true, but (R) is not the correct explanation of A

Give an example of a “form of credit” such as banking houses 1200-1450.

Due to very high interest rate of informal credit resources, people have tried .......