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Loans from banks and cooperatives belong to which sector of credit?

AFormal
BInformal
CPrivate
DForeign
Answer & Solution
Correct answer: A. Formal
1. Moneylenders and traders are informal. 2. Banks and cooperatives are formal. 3. The RBI supervises formal lenders. _Source: syllabus Understanding Economic Development, Chapter 3, Money and Credit._
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