Question 8 - MCQ Questions (1 Mark) - Chapter 3 Class 10 Economics - Money and Credit - Economics

Last updated at April 16, 2024 by

Which of the following does not constitute a part of informal credit in India?

(A) Commercial Bank

(B) Moneylenders

(C) Friends and relatives

(D) Zamindars

 

Answer: 

So, the correct answer is (A) - Commercial banks

Explanation

  • Commercial banks are a part of formal credit as they accept deposits from the public and give loans to borrowers. So this is correct .
  • Moneylenders are part of informal credit . So this is not correct .
  • Friends and family are part of informal credit . So this is not correct .
  • Zamindars are part of informal credit . So this is not correct .
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Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science and Computer Science at Teachoo