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Rural Credit MCQs

Rural credit is a monetary instrument that gives a chance of economical vocation for some country Indians. It is any type of advance that is taken by the ranchers or little locally situated businesses that are spread across provincial regions. The different wellsprings of provincial credit are country banks, co-employable social orders, land advancement banks, business banks and advances given by the Government. This large number of country credit mediums permit ranchers to assume different praise administrations, offices, and advances to meet their creation prerequisites.

Rural Credit MCQs: This section contains multiple-choice questions and answers on Rural Credit. It will help the students to prepare well for their exams.

List of Rural Credit MCQs

1. What is Rural Credit?

  1. Type of lending program or line of credit that is aimed at impacting a rural population in some manner
  2. A source of short-term finance for businesses and companies
  3. Extension of very small loans to impoverished borrowers who typically lack collateral
  4. The credit checks for which the system compares the credit limit of the customer with the net document values

Answer: A) Type of lending program or line of credit that is aimed at impacting a rural population in some manner

Explanation:

Rural credit is any sort of loaning system or credit extension that is pointed toward affecting a country populace in some way. Some banks and cooperatives represent considerable authority in stretching out this sort of credit to ranchers and others occupied with the rural assignment. Contingent upon the idea of the association, credit plans might zero in on giving home loan help, getting new gear or even assets to help investigate into different parts of land improvement inside a provincial local area.

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2. What is Cash Credit?

  1. Type of lending program or line of credit that is aimed at impacting a rural population in some manner
  2. A source of short-term finance for businesses and companies
  3. Extension of very small loans to impoverished borrowers who typically lack collateral
  4. The credit checks for which the system compares the credit limit of the customer with the net document values

Answer: B) A source of short-term finance for businesses and companies

Explanation:

Cash Credit (CC) is a wellspring of transient money for organizations and organizations. Cash credits are likewise called working capital advances as they store the moment cash necessities of the associations, or to buy current resources. Acquiring limits on how much money is accessible for credit for the organization differs between business banks.

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3. What is Micro-Credit?

  1. Type of lending program or line of credit that is aimed at impacting a rural population in some manner
  2. A source of short-term finance for businesses and companies
  3. Extension of very small loans to impoverished borrowers who typically lack collateral
  4. The credit checks for which the system compares the credit limit of the customer with the net document values

Answer: C) Extension of very small loans to impoverished borrowers who typically lack collateral

Explanation:

Microcredit is a typical type of microfinance that includes a minuscule advance given to a person to assist them with becoming independently employed or growing a private company. These borrowers will quite often be low-pay people, particularly from less created nations (LDCs). Microcredit is otherwise called "microlending" or "microloan."

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4. What is Simple Credit?

  1. Type of lending program or line of credit that is aimed at impacting a rural population in some manner
  2. A source of short-term finance for businesses and companies
  3. Extension of very small loans to impoverished borrowers who typically lack collateral
  4. The credit checks for which the system compares the credit limit of the customer with the net document values

Answer: D) The credit checks for which the system compares the credit limit of the customer with the net document values

Explanation:

This term has numerous implications in the monetary world, yet acknowledge is by and large characterized as an agreement understanding in which a borrower gets an amount of cash or something of significant worth and reimburses the moneylender sometime in the future, for the most part with revenue. Credit likewise may allude to the reliability or record as a consumer of an individual or a company.1 To a bookkeeper, it frequently alludes to an accounting passage that either diminishes resources or expands liabilities and value on an organization's asset report.

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5. Which organisations is/are not a part of formal sources of credit?

  1. Banks
  2. Moneylenders
  3. Cooperative Banks
  4. Employers

Answer: D) Employers

Explanation:

Formal sources of credit do exclude managers as there is no job of these businesses in the business related to banks and cooperatives. The occupation of businesses is the finished errand relegated by the proprietors and to serve the bank staff.

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6. Which of the following factors restricts the poor from an avail bank loan?

  1. Low CIBIL
  2. No Collateral
  3. Higher Interest Rates
  4. Complex Procedure

Answer: B) No Collateral

Explanation:

It is challenging for the poor to get credit from banks because:

  1. Banks before giving them advance request security.
  2. Banks frequently charge an exorbitant loan cost to the borrower.
  3. Poor individuals find it challenging to take care of the credit to the bank and therefore they get found out the in-debt trap.

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7. In which organization the loan and savings decisions are taken by group members?

  1. Non-Government Organizations
  2. Banks
  3. Cooperative Banks
  4. Self Help Groups

Answer: D) Self Help Groups

Explanation:

Group Members take the significant choices of SHG, due to the following reasons.

  • The gathering owes liability regarding the reimbursement of credits.
  • Different individuals from the gathering follow truly if there should be an occurrence of non-reimbursement of advance by one part.
  • The gatherings choose as respects the advances to be conceded the purpose, amount, interest to be charged, a repayment plan.

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8. Gau Samridhi Plus Scheme is introduced by which state to provide insurance coverage to dairy farmers?

  1. Uttar Pradesh
  2. Haryana
  3. Kerala
  4. Madhya Pradesh

Answer: C) Kerala

Explanation:

The Gau Samridhi Plus Scheme has been begun in the Kerala state to give protection inclusion to dairy cattle and their proprietors. This plan intends to give govt. appropriation on premium rates for the protection of 1 year and 3 years. The protection expense on the 1-year protection strategy is 2.8% of the all-out cost of the domesticated animals while for the protection strategy of 3 years, the premium sum is 6.54% of the all-out cost of the animals. The endowment will be given to half of the top-notch sum for the overall classification and 70% for the SC/ST class.

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9. In which year was the New Agricultural Policy launched in India?

  1. 1947
  2. 1990
  3. 1986
  4. 1976

Answer: C) 1986

Explanation:

New Agricultural Policy targets opening up rural deals and showcasing outside the told Agricultural Produce Market Committee or APMC mandis for ranchers. It eliminates obstructions between State exchange and gives a system to the electronic exchanging of farming produce.

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10. Bananas to which country are exported highest from India?

  1. United Arab Emirates
  2. Saudi Arabia
  3. Oman
  4. Iran

Answer: A) United Arab Emirates

Explanation:

In a significant lift to India's commodities of Geographical Indications (GI) guaranteed horticultural produce, a transfer of fibre and mineral-rich 'Jalgaon Banana' has been delivered to Dubai, United Arab Emirates. Around 22 tons of the GI affirmed banana was obtained from ranchers of Tandalwadi town in Maharashtra's Jalgaon area, a bunch distinguished under the new Agri trade strategy.

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More Commerce MCQs
Basic Accounting MCQs Business Studies MCQs
Capital Market MCQs Goods & Services Tax (GST) MCQs
Cooperative Society MCQs Sole Proprietorship MCQs
Partnership MCQs Depreciation MCQs
All Commerce MCQs

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