Difference between institutional and non institutional sources of credit for 0
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Sources of agricultural credit can be broadly classified into institutional and non-institutional sources. Non-Institutional sources include moneylenders, traders and commission agents, relatives and landlords, but institutional sources include co-operatives, commercial banks including the SBI Group, RBI and NABARD.
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Non institutional sources:
Landlords , Village Traders and Money Lenders are the three important sources of non institutional rural credit in India.
Non institutional sources accounted for 93% of the total borrowing of the farmers in the beginning of first five year plan
Institutional sources:
Government, Cooperative, Commercial Banks, The Regional Rural Banks. They together accounted for only 7 per cent of the credit needs of the farmer in the beginning of First Five Year Plan but prudently their share has increased to over 66%
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