Question

what is the difference between loans taken by the farmers in ancient times and the loans taken by the farmers in present times from banks cooperative societies​

Answer 1

Answer:

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Explanation:

Problems faced by small farmers

Sometimes banks doesn't provide the required amount of loan needed. The expenditure for getting loans is so very high. Moreover the banks charges high amount of interests . Apart from that the small farmers cannot provide sufficient security to banks.

Which bank gives loan to farmers?

Providers of Agricultural Loan

Name of the Lender Major Types of Agricultural Loans Offered

State Bank of India (SBI) Crop Loan Kisan Credit Card (KCC) Drip Irrigation Loan Combine Harvestor Loan

ICICI Bank Retail Agricultural Loan Long Term Agricultural Loan

Money lenders generally give loans to farmers on high interest which becomes impossible for farmers to repay loan due to certain factors like crop failure or price drop etc. ... The alternate method is to take loan from bank bcz they give loan at low interest and also give tike to farmers and don't take their land...

because t because they do not have excessive money for agriculture to fulfill the needs of family so they borrow money from money lenders or large farmers.

Answer 2

The differences between loans taken by farmers in ancient times and the loans taken by farmers in present times from banks and cooperative societies​ are as follows:

• In ancient times, the loans taken out were at a high-interest rate.
• However, in the event of failure to repay the loan by the farmers, moneylenders are subjected to grabbing the farmer's cattle, property and agriculture.
• On the other hand, the present-day bank provides the facility of repayment of loans in instalments and at low-interest rates.
• Thus, modern-day banks provide flexibility to the farmers to pay loan debts at their comfort.
• However, apart from the corporal society of banks, small farmers can borrow loans from local money lenders, agricultural traders, landlords, cooperatives, SHGs etc.

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