Which one of the following statement is not true about ‘credit’?

Cheap and affordable credit is crucial for the country’s development.

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Credit can never push a person in debt trap.

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In rural households, moneylenders are the biggest source of credit for the people.

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Credit helps the farmers to meet the expenses of food grain production.

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Solution

The correct option is B
Credit can never push a person in debt trap.

Credit can never push a person in debt trap.

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Similar questions

Q. Which of the following is the main informal source of credit for rural households in India?

Which of the following is the main informal source of credit for the rural households in India?

Q. _____ credit is crucial for the development of a country.

Q. Most of the credit needs of poor households are met from informal sources of credit. The dependence of richer households on informal sources of credit is less.

Identify the reasons for this situation.

Kisan Credit Card scheme was introduced in 1998 with the aim to provide adequate and timely short-term credit needs of farmers during the cropping season. Under KCC scheme, credit is provided to farmers for which of the following purposes:

Code:

1,2,3 and 4 only
1 only
2,3 and 5 only
All of these

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Which one of the following statement is not true about ‘credit’?

The correct option is B Credit can never push a person in debt trap. Credit can never push a person in debt trap.

The correct option is B
Credit can never push a person in debt trap.

Credit can never push a person in debt trap.