Question

history of rural credit and cooperatives in India ​

Answer 1

Answer: Besides banks,the other major source of cheap credit in rural areas are the cooperatives.

Members of a cooperative, pool their resources for cooperation in certain credits.

Cooperatives from members,who accept deposits from it's members.withthis deposits as collateral, the cooperative obtains a large loan from the bank.These funds are used to provide loans to members.once these loans are repaid, another round of leading can take place.