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Single Answer MCQ
Q-00045487

Which type of borrower is likely to access formal sector credit?

1

Small scale industries

2

Traders in the black market

3

Private moneylenders

4

Casual laborers

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Sandeep Chaturvedi

Sandeep Chaturvedi

CBSE Social Science & Humanities Reviewer

Social science and humanities educator with 14+ years of experience reviewing CBSE SST, economics, commerce, arts, and vocational content.

M.A. HistoryM.A. Political ScienceB.Ed.

Answer and Solution

Answer

A. Small scale industries

Solution:

Small scale industries are a typical group that can access formal sector credit, as they are recognized and regulated by banks.

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