10th Class Social Science Money and Credit Question Bank Short Answer Type - Money and Credit

  • question_answer Explain 'Loans from Cooperatives'.

    Answer:

    Cooperatives accept deposits from its members which becomes the basis (collateral) to obtain huge loan from the banks. These amounts are used to provide loans to members for purposes such as purchase of agricultural implements, loans for cultivation, construction of houses and a variety of other expenses. Another round of lending can take place after existing loans are repaid. There are different types of cooperatives such as farmers cooperatives, weavers cooperatives, etc.


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