Question

Select the formal sources of credit from the given sources and choose me correct option.

I. Bank
II. Moneylender
III. Cooperatives
IV. Businessman

(A) Only I and II

(B) Only II and III

(C) Only I and III

(D) Only I and IV

Answer 1

Correct option is (C) Only I and III

• Formal sources of credit are: Banks and Co-operative societies.
• Reserve bank of India will supervise the activities of the banks and co-operative societies in India.