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Class 12 Tuition > Learn Economics > State any three advantages of formal sources of credit.
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State any three advantages of formal sources of credit.

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These institutions are regulated by the Reserve Bank Of India. Their rates of interest for loans are controlled. 1. The rates and terms are fixed.2. There is no exploitation by the lenders.3. Everyone can take a loan that includes big businessmen as well as the small cultivators or browser.
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These institutions are regulated by the Reserve Bank Of India. Their rates of interest for loans are controlled. 1. The rates and terms are fixed.2. There is no exploitation by the lenders.3. Everyone can take a loan that includes big businessmen as well as the small cultivators or browser. read less
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