Damaji borrows a loan from a credit society established in the village this season rather than taking it from a moneylender.
Identify and explain the concept from the given illustration:
Damaji borrows a loan from a credit society established in the village this season rather than taking it from a moneylender.
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Institutional Source of Credit.
It includes commercial banks, Regional Rural Banks (RRB’s), Rural Co-operative Credit Institutions, etc. They provide loans to farmers for agricultural productive activities at a lower rate of interest.
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