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Social Science — CBSE Class 10 board question

Q1. [1]
Select the formal sources of credit from the given sources and choose the correct option. I. Bank II. Moneylender III. Cooperatives IV. Businessman
  1. (A) Only I and II
  2. (B) Only II and III
  3. (C) Only I and III
  4. (D) Only I and IV
Previously asked in CBSE board exam
2024 32/5/1 Q20
Generated by claude-sonnet-4-6 · 2026-06-15 06:53 · grounding rag
Model Answer

(C) Only I and III

Banks and Cooperatives are formal sources of credit, supervised by the RBI. Moneylenders and businessmen are informal sources.

Explanation

As per the textbook, formal sector loans include banks and cooperatives. Informal lenders include moneylenders, traders, employers, relatives, and friends. The key distinction is RBI supervision — formal lenders are regulated; informal ones are not. Eliminate II (moneylender) and IV (businessman) as both are informal sources.

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Previous-year CBSE Grade 10 board exam questions, organised by subject and chapter, each with a model answer — free to read and print.