Question

Select the formal sources of credit from the given sources and choose the correct option.
Sources:
1. Bank, 
2. Moneylender, 
3. Cooperatives, 
4. Businessman

• A. Only I and II
• B. Only II and III
• C. Only I and III
• D. Only I and IV

Answer 1

The Correct Option is C

Institutions such as banks and cooperatives represent formal credit sources. These entities function within governmental oversight and offer loans at competitive interest rates.