Explain the importance and the sources of credit in the rural system.
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The credit can help farmers acquire seeds, tools, fertilisers and more, which are essential parts of their trade. Another valid reason for availing rural credit is to mitigate personal expenses, such as marriage, religious functions, death and more.
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Credit is required to meet certain expenses because the gestation period between crop sowing and realization of income after production is long. Farmers require credit to invest on seeds, manure, fertilisers. ... Credit is required for rural people for self-employment
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