Question : Which of the following is an institutional source of credit in India?
Option 1: Money lenders
Option 2: Commission agents
Option 3: Traders
Option 4: Commercial banks
Correct Answer: Commercial banks
Solution : The correct option is Commercial Bank .
A major portion of credit extended to consumers, companies, and other economic sectors is handled by commercial banks. They receive deposits from the general public and lend this money to borrowers for a range of financial services, credit facilities, and loans. One of the main providers of credit for a variety of financial requirements, commercial banks are an essential component of India's formal financial system.
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