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Social Science · 2023 · 3 marks
CBSE 2023 · Region 6 · Set 1 · Q27
Distinguish between formal and informal sources of credit.
Marking-scheme solution
| |p{$\displaystyle 0.47$\linewidth}|} Formal credit (i) It includes loans from banks. (i) It includes loans from traders, Money lender, relatives. (ii) It charges lower rate of interest (ii) It charges high rate of interest. | Informal credit |
| (iii) RBI supervises their functions (iii) No organization is there to supervise its lending activities. | lending activitieso. $\displaystyle 49$) |
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CBSE Class 10 Social Science past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.