Home › ICSE Class 10 › Social Science › c10moneycredit › Who supervises the credit activities of informal…
Who supervises the credit activities of informal lenders?
ANo branch
BNo one
CNo bank
DNo board
Answer & Solution
Correct answer: B. No one
1. The RBI oversees only the formal sector.
2. Informal lenders set their own rates.
3. No organisation supervises them.
_Source: NCERT Class 10 Social Science, 'Understanding Economic Development', Ch 3 'Money and Credit'_
Related questions
Banks lend to poor women in SHGs even though they have no:Interest charged by a Self Help Group is compared with that of the:Self Help Groups are formed particularly among rural:A typical Self Help Group has how many members?What share of rich urban households' loans is from informal sources?What share of loans to poor urban households comes from informal sources?Who supervises the functioning of formal sources of loans?Which is an informal lender?