10th Class Social Science Money and Credit

  • question_answer 15) Compare the terms of credit for the small farmer, the medium farmer and the landless agricultural worker in Sonpur.

    Answer:

    (a) Terms of credit for small farmer   • High rate of interest.   • Promise to sell crops to traders at low prices as repayment of loan.   (b) Terms of credit for medium farmer.   • They can take loans from banks or from co-operatives who charge very low rate of interest.   • Loan can be paid back in the next three years.   (c) Landless agricultural workers in Sonpur   • Borrower has no means to repay the loan in cash. So, he pledges to repay loans by working for the landowner   • Rate of interest is high.  

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