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Identify and explain the concepts from the given illustration: Damaji borrows loan from a credit society established in the village this season rather than taking it from a moneylender. - Economics

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Question

Identify and explain the concept from the given illustration:

Damaji borrows loan from a credit society established in the village this season rather than taking it from a moneylender.

One Line Answer

Solution

A. Identified concept: Institutional source of agricultural credit.
B. Explanation of concept: A source of agricultural credit that is owned, managed, or regulated by government is called an institutional source of agricultural credit. For example, Primary agricultural credit society.
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Agricultural Credit in India
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Chapter 5: Rural Development in India - Exercise Q.4 [Page 35]

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Balbharati Economics [English] 11 Standard
Chapter 5 Rural Development in India
Exercise Q.4 | Q 4 | Page 35
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