The percentage share of cooperative societies of credit for rural households in India in 2013 was:

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25%

27%

30%

52%

answer is B.

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Detailed Solution

The percentage share of cooperative societies of credit for rural households in India in 2013 was 52%. Cooperative societies are a significant source of affordable credit in rural areas, in addition to banks (or cooperatives). There are several types of cooperatives possible such as farmer's cooperatives, weavers cooperatives, industrial workers cooperatives, etc. one of the examples is Krishak Cooperative functions in a village not very far away from Sonpur. It has 2300 farmers as members. It accepts deposits from its members. The Cooperative has secured a sizable loan from the bank using these deposits as collateral. Loans are made to members using these funds.

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