Describe the difference between formal, informal, and semi-formal microfinance institutions?

Formal institutions are those which are organized and are regulated.eg includes such as cooperatives rural banks.Imformal instititutions are those which are unorganized,noninstitutional,and non regulated eg includes such as money lenders shopkeepers etc. Semi formal are the non government institutions whic h are runned by ngos

The informal Microfinance institutions provide credit facilities for small farmers and rural areas,  while the informal Microfinance institutions provide credit facilities for small farmers and rural areas, while the formal Microfinance institutions ignore farmers and small- scale enterprises in favour of large- scale, well- off clientele which satisfy their stringent loan  conditions. However, the semi- formal institutions are for the credit cooperative, poverty alleviation program, job creation program and for other programs.