Which is the most popular and main source of credit for the rural households in India ?
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Co-Operative Credit Societies:
The cooperative societies are supposed to be the cheapest and most important source of rural credit.
Land Development Banks
:Land development bank (formerly known as land mortgage banks) mainly provide long-term loans to farmers against the mortgage of their lands at low rates of interest over a period of 15 to 20 years.
Commercial Banks:
Before nationalisation of top 14 commercial banks in June 1969,they had an urban bias. They were mainly accepting deposits from the urban people and making loans to trade and industry.
I hope it's helps u alot plZ marks as brilliant answer.
The cooperative societies are supposed to be the cheapest and most important source of rural credit.
Land Development Banks
:Land development bank (formerly known as land mortgage banks) mainly provide long-term loans to farmers against the mortgage of their lands at low rates of interest over a period of 15 to 20 years.
Commercial Banks:
Before nationalisation of top 14 commercial banks in June 1969,they had an urban bias. They were mainly accepting deposits from the urban people and making loans to trade and industry.
I hope it's helps u alot plZ marks as brilliant answer.
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