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Moneylenders, traders, employers, relatives and friends are which kind of lenders?

AStatutory
BInformal
CFormal
DLicensed
Answer & Solution
Correct answer: B. Informal
1. No organisation supervises them. 2. They are informal lenders. 3. They charge much higher interest. _Source: syllabus Understanding Economic Development, Chapter 3, Money and Credit._
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