SSC Economics Sample Paper NCERT Sample Paper-4

  • question_answer
    What do you understand by Primary Credit Societies?

    A)  These societies provide long term credit facilities to industrial sector.

    B)  These societies provide long term credit facilities to agriculture sector.

    C)  These societies provide short term loans to agriculture sector.

    D)  None of the above.

    Correct Answer: C

    Solution :

    [c] Primary Cooperative Credit Societies are formed at village or town level. A primary credit society refers to any cooperative society other than a primary agricultural credit society. It is basically an association of members residing in a particular locality. The members can be borrowers or non-borrowers. The funds of this society are derived from the share capital of the deposits and also the loans from central cooperative banks. In the Primary Cooperative Credit Society, the borrowing powers of the members as well as of the society are fixed. It generally gives small credit for farm inputs, fodder, fertilizers, pesticides etc.

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