How Banks and Cooperatives play an important role in providing loans in rural areas?
(class 10 - economics . ch- money and credit)
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Members of a Cooperative pool their resources for helping one another, e.g., Farmers' Cooperatives, Weavers' Cooperatives, etc. They offer cheap credit in rural areas for their members. Once these loans are repaid, another round of loans is offered. ... Commercial banks also give loans to rural households.
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