why do the rural people approch more to moneylanders than bank for loan??
Answers
Answered by
20
- /Small farmers compel to borrow money because :To Maintain their livelihood. *
- *As they need money, they buy fertilizers and seeds.
- * To celebrate festivals.
Hope it helps uh! ☺
Answered by
1
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.
Hope it helps uh!☺
Similar questions