on what terms did savita get loan from tejpal singh ? would savita conditions be better if she could get a loan from a bank at a low rate of interest ?
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Yes, her condition would have been definetly better of
Explanation:
- Savita needed money for buying fertilizers, pesticides, water for irrigation, and seeds. She also required money for overhauling her farm equipment. Therefore, she decided to take loan from Tejpal Singh, a big farmer in her village. Tejpal Singh agreed to give Savita the loan of INR. 3000 @ interest of 24 percent for 4 months. He also got her to agree to work on his field during the harvest season for INR 35/day. Since she knew that it would be difficult for a small farmer like her to avail a loan, she agreed to the tough conditions.
- Savita's condition would have been definitely better had she availed of loan from the bank. She would have got loan from the bank at a low interest rate. Besides, Savita could have devoted more time on her field rather than working, as a farm labourer, for Tejpal Singh .
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