Impact of Applied Agro-Cooperative Credit and Banking on Farmers ...

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Impact of Applied Agro-Cooperative Credit and Banking on Farmers and Farming

By | July 2013
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IMPACT OF APPLIED AGRO-COOPERATIVE CREDIT AND BANKING ON FARMERS AND FARMING

People depend for good introduction in Agro-Farming not only on good seeds, good fertilizers, good irrigation and good Agro-technology; but they need also short-term, medium and long term loans to meet their other demands at farm level in farming. This genuine situational scene has a power to present an impact of applied cooperative credit and banking on farmers in farming from the point of origin of the Indian Cooperative Credit (a facile credit) movement from the period of working of NIDISH in Madras Province in 1882 to 1904 till date. This is a good Genesis of this issue with a scientific periodicity which may be perused in following section. An Iota in the facile cooperative credit scene of madras province Nidish a socio-economic social group were working in very active form like the primary cooperative credit societies at farm level in rural Madras province in 1882-1884. Madras Provinces 1882-1884 :- Fedaric Nicholson’s visit from India to Germany to study the working of The Raiffieson Model Rural Cooperative Credit societies and came back with a finding “Find Raiffieson” because he found 100% similarities in need of Agro – financing for Rural India, with cultural similarities at great scale in rural India and Rural Germany. In India also there was great exploitation done by private moneylenders by charging 75% rate of interest and in Germany also such high interest was taken by Jews/Nazis from Rural Germany Farmers. The profit motive and usurious practices were similar in India and Germany. In 1882 to 1884 Fedaric Nicholson came back from Germany in Madras Province and recommended to the government to start primary Agro-Cooperative credit and Banking instead of Nidish to protect rural people from great exploitation and usurious practices of private money lender. His report and recommendations were accepted by the Madras provincial government under the control of British...
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