Choose whether the given statement is true or false.

Cooperatives are a better source of credit than informal credit.

see full answer

High-Paying Jobs That Even AI Can’t Replace — Through JEE/NEET

🎯 Hear from the experts why preparing for JEE/NEET today sets you up for future-proof, high-income careers tomorrow.

An Intiative by Sri Chaitanya

True

False

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is true.
Cooperatives are a better source of credit. Like commercial banks, cooperative societies take care of the needs of the weaker section of society by lending them at cheaper rates. Members of a cooperative society pool their resources to help each other. As India is an agrarian economy, most people from rural households work in agriculture. Banks and cooperatives can protect rural households from exploitation by moneylenders, which often leads to a debt trap.

Watch 3-min video & get full concept clarity

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Online Course for IIT JEE

Best Online Course for NEET

Best Online Course for CBSE

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test