alleryWhich is an informal lender?
AMerchant bank
BMutual bank
CMunicipal bank
DMoneylender
Answer & Solution
Correct answer: D. Moneylender
1. Traders, employers and relatives are also informal.
2. Banks and cooperatives are the formal ones.
3. The moneylender is informal.
_Source: syllabus Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
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