Multiple choice

Majority of rural people still prefer to go to which of the following for their credit needs?

  1. Money lenders

  2. Foreign Bankers

  3. NABARD

  4. RBI

  5. None of these

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In many rural areas, especially in developing economies, institutional credit is often inaccessible or slow to obtain. Consequently, farmers and rural households frequently rely on informal sources like local money lenders for immediate credit needs.