In India, about 80 per cent of farmers are small farmers, who need credit for cultivation.
(a) Why might banks be unwilling to lend to small farmers?
(b) What are the other sources from which the small farmers can borrow?
(c) Explain with an example how the terms of credit can be unfavourable for the small farmer.
(d) Suggest some ways by which small farmers can get cheap credit.
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Answer:
a. The farmers do not have sufficient things that can be exchanged as credit from banks bcz bank need something in return to trust on them...
b. farmers can borrow money or credit from money lenders
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