Question

Individuals who lend money to people, especially to farmers, and charge high rates of interest in rural areas are known as .

• A. commercial banks
• B. central banks
• C. moneylenders
• D. farmer cooperatives

Answer 1

The correct option is C moneylenders

In many rural areas, there are indigenous banks that include moneylenders or sahukars. They are individuals who lend money to people, especially to farmers and charge high rates of interest.