Question

why credit is need for credit in rural areas​

Answer 1

Answer:

The expansion of formal sources of rural credit is essential to save poor from the high rate of interest of moneylenders and debt-trap.

Explanation:

Credit is needed by fanners to meet the initial Investment on seeds, fertilisers, implements, etc till the crop is ready.

Answer 2

Answer:

in rural areas , the main demand for credit is for crop production , crop production involves considerable costs on seeds fertilizers , pesticides , water electricity , repair of equipment etc ......

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