Discussion
If a farmer want to take loan to purchase a tractor; which type of bank he should contact?
Answer: A
Correct answer: Commercial banks
A tractor loan is agricultural term credit, and it is advanced by a commercial bank, a regional rural bank or a cooperative - commercial banks being the largest source. The Reserve Bank does not lend to individuals at all, and NABARD does not either: it provides refinance to the institutions that do, and sets policy for rural credit.
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