what are the services rendered by the banks in fulfilling the needs of farmers?
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Banks ensure that the farmers are freed from the clutches of moneylenders by extending to them loans at low or reasonable rates of interest. This works like working capital for the farmers and helps them to buy seeds, fertilisers and agricultural equipment; loans are also extended to help the farmers tide over the period between sowing/planting and realisation of their dues after the produce is sold in the market. The banks serve the farming sector under the guidelines of the Central Government, the RBI and NABARD.
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Banks ensure that the farmers are freed from the clutches of moneylenders by extending to them loans at low or reasonable rates of interest. This works like working capital for the farmers and helps them to buy seeds, fertilisers and agricultural equipment; loans are also extended to help the farmers tide over the period between sowing/planting and realisation of their dues after the produce is sold in the market. The banks serve the farming sector under the guidelines of the Central Government, the RBI and NABARD.
HOPE THIS HELPS YOU:-))
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