the second major source of credit in indian industries is the
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by issuing shares, debentures and bond
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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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