Credit available for a period of 15 months to 5 years is termed as __________.

long-term credit

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short-term credit

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medium-term creit

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both 'b and c'

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Solution

The correct option is C medium-term creit
Credit available for a period of 15 months to 5 years is termed as medium term credit.In order to fulfill the financial requirements of the agricultural sector in rural India, appropriate and specialized credit agencies are needed. Credit helped to increase the productive capacity.

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