Question

Describe 4 major sources of credit for rural households in India

Answer 1

FOLLOWING ARE THE SOURCES:--

RURAL REIGONAL BANK

COOPERATIVE SOCIETIES

COMMERCIAL BANKS

LAND DEVELOPMENT BANK

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Answer 2

Co-Operative Credit Societies:

The co­operative societies are supposed to be the cheap­est and most important source of rural credit. 

Land Development Banks:

Land devel­opment bank (formerly known as land mortgage banks) mainly provide long-term loans to farmers against the mortgage of their lands at low rates of interest over a period of 15 to 20 years. 

Commercial Banks:

Before nationalisa­tion of top 14 commercial banks in June 1969, they had an urban bias. They were mainly accept­ing deposits from the urban people and making loans to trade and industry.