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Question

Bhavana needs an urgent loan to buy some seeds for her crop. Who can she approach?

A
Self-help groups
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B
Banks
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C
Moneylenders
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D
Traders
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Solution

The correct option is A Self-help groups
Bhavana needs an urgent loan and so, cannot wait for the bank to process her paperwork. The self-help group would process her application relatively faster. Borrowing from a moneylender or a trader would land her in a debt trap (a situation when a debt is difficult or impossible to be repaid).

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