economicsBanks and cooperatives from the following:

Banks and cooperatives from the following:


  1. A
    Formal sources of credit.
  2. B
    Reserve Bank of India
  3. C
    Home Ministry
  4. D
    NABARD 

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    Solution:

    Banks and cooperatives form the formal sources of credit.
    The Reserve Bank of India governs and supervises the functioning of these credit sources. The RBI monitors the number of loans banks provide, the interest rate, and who the borrowers are. Without any supervision by the RBI, banks might want to lend only to profit-making businesses and wealthy individuals. But the RBI ensures that banks lend not only to business people but also to small borrowers.
     
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