Question 16
HardOriginal questionRead the two statements and choose the correct option.
I. Commercial banks in rural areas have often failed to recover loans effectively.
II. Institutional credit has fully replaced moneylenders in rural India.
Show the answer and explanation
CorrectNot quiteAnswer A
Correct answer: A
Explanation
High default rates on farm loans are a long-standing problem: I is true.
Moneylenders still lend in many villages, so II is false.
- Concept
- Problems of rural credit
- Typical timeTypical
- 100 s
- Your timeYours
- —
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