Single Answer MCQ
Q-00015898
Which of the following informal sources contributes 23% of credit in rural India?
1
Commercial Banks
2
Cooperative Banks
3
Moneylenders
4
Relatives and Friends
Answer and Solution
Answer
C. Moneylenders
Solution:
Moneylenders contribute 23% to the credit in rural India, highlighting their role despite higher risks and costs associated with informal borrowing.
Watch Video Solution