alleryCooperative societies serving as lenders are common in
Aonly urban areas
Brural areas and small-town cooperatives, mainly for agriculture
Cinternational banking
Donly metro cities
Answer & Solution
Correct answer: B. rural areas and small-town cooperatives, mainly for agriculture
1. Cooperative credit societies operate widely in rural and semi-urban India.
2. They serve farmers and small businesses for agricultural and allied loans.
3. They are an important part of the formal credit sector.
_Source: syllabus Understanding Economic Development, Ch 3 "Money and Credit"_
Keep practising Economic Development & Banking
Browse all Economic Development & Banking questions for CBSE Class 10, or explore more Social Science topics.
Related questions
What must every e-commerce entity display under the 2019 Act?Which authority was set up under the Consumer Protection Act, 2019?What is a mediator in consumer disputes?Which is a weakness of the consumer redressal process in India?Why is evidence hard to gather in many small purchases?Roughly how many consumer groups exist in India, per NCERT?Which of these goods must be certified before sale in India?For which product is certification mandatory for producers?