on what terms did Savita get a loan from Taj Pal singh would savita condition be different if she could get a loan from the bank at low rate of interest
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Savita doesn't have the money to buy water and repair her farm instruments, so she decided to borrow from Tejpal Singh, a large farmer.
Tejpal Singh agrees to give Savita the loan at an interest rate of 24% for four months.
But she has to promise to work on his field as a farm labourer during the harvest season at Rs 35 per day.
She had to work very hard as she had to complete harvesting on her field also.
Yes, it is advantageous to get a loan from bank as it gives loan at low rate of interest which would be very useful for a small farmer.
And there is no need for double work for them.
Hope it helps!!!
Tejpal Singh agrees to give Savita the loan at an interest rate of 24% for four months.
But she has to promise to work on his field as a farm labourer during the harvest season at Rs 35 per day.
She had to work very hard as she had to complete harvesting on her field also.
Yes, it is advantageous to get a loan from bank as it gives loan at low rate of interest which would be very useful for a small farmer.
And there is no need for double work for them.
Hope it helps!!!
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ANS:-
Savita condition would have been better if she could get a loan from the bank. The bank would have provided her the loan at a low rate of interest. Moreover Savita could have devoted more time on her own field instead of working for Tajpal Singh as farm labour
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