Home » MCQs » Commerce MCQs » Rural Credit MCQs

What is Rural Credit?

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.