List any six sources of credit operating generally in India villages
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1 moneylenders
2 landlords
3 merchants
4 banks (in some villages)
5 cooperative houses such as SHGs
6 rich farmers
2 landlords
3 merchants
4 banks (in some villages)
5 cooperative houses such as SHGs
6 rich farmers
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8
The six sources of ‘credit operating’ generally in India villages are:
1. ‘Co-Operative Credit Societies’
2. Land Development Banks
3. Commercial Banks
4. ‘Regional Rural Banks’
5. Moneylenders
6. The Government
Explanation:
- The co-operative societies are an important source of rural credit and they are considered to be the cheapest.
- The Land Development Banks offer long term loans to the farmers. The commercial banks are ensuring easy flow of credit towards the agriculture and small-scale industries.
- The regional rural banks were set up to take care of the needs of small and marginal farmers.
- Moneylenders are still operating and helping farmers in rural areas.
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