Explain any 3 reasons that people might apply for loans in rural areas.
1) In rural areas, the main demand for credit is crop production.
2) Farmers usually take crop loans at the beginning of the season and repay the loan after harvest.
3) They also take loans to clear their earlier debts and loans
4) Farmers get the help of banks and cooperatives to incur input costs such as fertilisers, pesticides, seeds, etc in order to earn better yields and profits