Source of rural credit?
discuss the difference sources of rural credit
Rural credit and marketing can revolutionize the rural scenario and can play a pivotal role in rural development. While urbanized banks are more inclined to extend credit to urban people, the rural banks, credit societies can assess the exact exact requirements of rural farmers, artisans and offer credit to them or co-operatives formed by them. This in fact help them tol become self-dependent and ensure their livlihood.
In India sources of credit can be categorized into formal and informal sources. Formal sources of credit consist of commercial banks, regional rural banks, cooperative credit societies etc. Informalsources of credit are friends and relatives, moneylenders etc. Today, India has over 32,000 ruralbranches of commercial banks and regional rural banks (RRBs), some 14,000 cooperative bank branches, 98,000 primary agricultural credit societies (PACS) (Basu and Srivastava, 2005).
Patrick O. Alila has written: 'Informal credit and rural small enterprises growth' -- subject(s): Rural credit, Rural industries, Small business 'Kenya general elections in Bondo and Gem' 'Co-operative banking in Kenya' -- subject(s): Banks and banking, Cooperative, Co-operative Bank of Kenya, Cooperative Banks and banking, Cooperative societies 'Informal and formal credit in rural Kenya' -- subject(s): Informal sector (Economics), Rural credit
Durgadas Roy has written: 'Reorganisation of rural credit in West Bengal through the co-operative institutions during the plan period' -- subject(s): Government financial institutions, Agricultural cooperative credit associations, Rural credit 'Cooperation and rural development in India' -- subject(s): Cooperative Agriculture, Cooperation, Rural development 'Consumer cooperatives in India' -- subject(s): Consumer cooperatives
Manfred Zeller has written: 'Rural finance and poverty alleviation' -- subject(s): Agricultural credit, Finance, Government policy, Informal sector (Economics), Poverty, Rural credit, Rural development 'Effects of credit programs on agricultural production and crop income of smallholders in Malawi' -- subject(s): Agricultural credit, Agriculture, Economic aspects of Agriculture, Farm income, Small Farms 'The Triangle of Microfinance'
Assuming you mean "informal" sources of credit, it is not true that 'most rural people' depend on them. There are some countries where custom, often combined with strong family-, clan or tribal ties may lead to family and neighbors giving loans to each other, certainly if banks and development organizations are not present in the area. But in developed countries, South East Asia and much of Africa loans in rural areas are mostly given by…
Fred R. Yoder has written: 'Migration of farm population and flow of farm wealth' -- subject(s): Population, Rural, Rural population, Rural-urban migration 'Stories of early pioneers in Whitman County, Washington' -- subject(s): Pioneers, History 'The North Carolina credit union' -- subject(s): Agricultural credit, Banks and banking, Cooperative, Cooperative Banks and banking, North Carolina Credit Union 'Some better things in farm life in Washington' -- subject(s): Rural conditions, Farm life
A source document is one that originates and provides proof of a financial transaction. My guess is if the amount approved is not indicated on there it is considered correspondence. For bookkeeping purposes though, the source document would be specific check or credit card indicating the amount of credit.
NABARD is an acronym for National Bank for Agricultural and Rural Development. It is a development bank headquartered in Mumbai India which offers credit and loan facilities for agricultural and rural development in the country. It has branches all over the country and the amount of credit it offers to the citizens of india runs to billions of rupees every year.