Question

what is credit? what are the sources of credit in india?​

Answer 1

Answer:

the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

the sources of credit in india are:-

• Co-operative Credit Societies.
• Regional Rural Banks.
• Commercial Banks.

Answer 2

Answer:

Credit is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately, but promises either to repay or return those resources at a later date.

Listed below are the five major sources for rural credit in India.

♦ Land Development Banks. These banks provide a considerable sum of money as a credit to farmers by using their land as collateral.

♦ Co-operative Credit Societies.

♦ Regional Rural Banks.

♦ Commercial Banks.

♦ Government.