1.

State with reasons whether you agree or disagree with the following statements:The interest charged by the money lenders is usually very low.

Answer»

No, I do not agree with the statement.

  • Moneylenders are the private lenders of credit. 
  • They fall under the non-institutional sources of agricultural credit. 
  • They provide loans to farmers against land or other assets as collateral security. 
  • Thus, they charge a high rate of interest and mortgage the property of the cultivators.


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