what caused rural people to get mired in debts...
Answers
Almost every farmer in India’s massive rural swathes is tethered, in one way or another, to the sahukar, the Indian variety of the moneylender, the ubiquitous, ravenous loan shark.
For centuries, moneylenders have monopolized rural Indian credit markets. Families have lost land, farmers have been asked to prostitute their wives to pay off debts, and, when all else has failed, they have tied the noose to end their misery.
An inescapable cycle of debt continues to grip rural India, particularly its farming class. Yet the public image of menacing debt collectors does not reflect the actual plight of India’s three million farmers. Moneylenders have been around for generations, but their business has boomed ever since India’s economic priorities shifted, with globalization, from agriculture to industry. The arrival of high-cost seeds and pesticides and the attraction of bumper harvests have added to the debts. In farm belts moneylenders operate under the guise of farm input sellers.
when. their. crops. failed. they. unable. to. pay. their. loans.
instead. of. paying. their. earlier. loans. they. take another loans
moneylenders charged. very. high. interest. rate. on. loans. even. they. harass the. people
hope. this. will b. useful. for u