sources of credit facilities accross rural areas ??
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Source # 1. Co-Operative Credit Societies:
The cooperative societies are supposed to be the cheapest and most important source of rural credit. When co-operatives were first set up it was thought that they would be able to meet almost the entire credit needs of numerous small and medium farmers.
As a result, the moneylenders would recede to the background. But this has not really happened. Till 1950-51 they played a passive role in the area of rural credit.
The cooperative societies are supposed to be the cheapest and most important source of rural credit. When co-operatives were first set up it was thought that they would be able to meet almost the entire credit needs of numerous small and medium farmers.
As a result, the moneylenders would recede to the background. But this has not really happened. Till 1950-51 they played a passive role in the area of rural credit.
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Most common sources of credit facilities accross rural areas is from moneylenders , traders and rich farmers or businessmen . They also form sometimes self help groups and co operatives which give them small loans .Rural people seldom take credit or loans from the banks although they might be present in their area because of the absence of collateral.
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