Unit 4 Ch 3 : Money and Credit — Social Studies STD 10 — Question
CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 3 : Money and Credit1 Mark
Question
Why do informal sectors charge interest rate at their own risks?
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Answer
There is no organisation which supervises the credit activities of lenders in the informal sector. Therefore, they lend at whatever interest rate they choose. No one stops them from using unfair means to get their money back.
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