Fast loans Minnesota

The village money-lender and in some cases the istimrardars advance loans in kind also. Rates have already been given in reply to question No. Except loans obtained from Government no period of repayment is settled on account of the uncertainty of produce due to famines v? Advances are only made in times of scarcity and famine when extra Btaff is employed. Liberal use of the Act should be made and extra staff provided for the purpose. There is no co-ordination, nor does there appear any scope for the same. As far as the istimrari area is concerned the chief obstacle in the finance of agricultural production is that the landlord, i. The last kharif crop was in fast loans Minnesota some places totally destroyed by locusts and hoppers and the village money-lenders refused to advance seed and grain fqr the subsistence of the agriculturists. No advances by Government under the Agriculturists Loans Act being possible, the only agency who could advance in such circumstances was the istim- rardar himself.

There exists no provision for the recovery of such takavi advances in preference to the realization of old debts by the -village money-lenders through civil courts. This would be to the mutual benefit of the land-lord and the agriculturist. The marketing centres of the chief crops in this district are: — Grain. Merchants and dealers purchase the produce in the market. The cultivator has to pay eight annas to rupee cne per cent, to the commission agent known as artia, two annas to four annas per cart on account of weighing charges and one anna per cent, for dharmada or charity and one anna and a half per cent, on account of sweeping and water charges. Previous to taking it to the market the produce is. It is not generally stored at the market but is sold straightaway. Long-term loans are in demand by small agriculturists for sinking wells, etc. Tn the istimrari area land cannot be offered as security. Land is not mortgaged by tenants, in the istimrari area. Private mortgages, if any, are however not recognized. For facility of borrowing for productive purposes in these areas the suggestions given in answer to Questions Nos. As land in istimrari areas cannot be mortgaged the question of land mortgage bank does not arise. In the istimrari area long-term credit should be granted for productive purposes by the istimrardar himself. In case he is not m a position to advance he should borrow from Government under the Land Improvement Loans Act, The land, wells, etc. The following are instant loans Michigan some of the subsidiary industries : — (1) Gur making. These industries are suffering for want of capital which handicap could be overcome by the formation of co-operative societies. By increased credit facilities and establishment of co-operative stores. The enterprises suggested are— (1) Rope, basket, and string making.

The working fast loans Minnesota capitial could be secured by co-operative banks.

The defects of the co-operative credit societies are chiefly due to the selfish motives of the workers and committees and some of them are as under: — (1) Oregon loans for bad credit Bad selection of members and areas, and insufficient attention. The village money-lender does shop-keeping and some-times other trade besides money-lending. Not more than 10 per cent, live exclusively on money-lending. The financing of agriculture is done mostly by the village money-lender and in some cases by the land-lord. He does so only where there are good prospects of earning profit.

In many cases when the crop fails he refuses to advance loans, etc. The indigenous bankers advance loans in cash and kind ort k hat cm and bonds executed by the borrower. The agricultural community has to pay interest on cash varying from 12 per cent, to 24 per cent, plus discount at 5 per cent. Interest in kind varies from 25 per cent, to 50 per cent, per year. Rates could be brought down by legislation and more drastic use of the Usurious Loans Act. The reduction of rafes would certainly be a boon to the agriculturists. The dealings of this class are not generally fair to the ignorant cultivator. The majority spend the amount on mosars and marriages. Chairman: How long have you been the Manager of the Court of Wards here?

Hew many estates have you got under your superintendence? I also exercise first class civil and criminal powers. What is the general condition of the ryot in your area? As Manager of the Court of Wards you have to sanction suclk advances? Have you got enough money of your own to advance to the tenants? Can you tell us the cause of indebtedness of the estates, under your control? Besides they have to maintain their position fast loans Minnesota and have to spend a good deal on this account. Since you have been the Manager of the Court of Wards how many scarcity years have you had 1 —During the last 10 years there have been 2 or 3 scarcity years, besides other calamities like frost and locusts. Have you got any co-operative banks in your estates? But I advance money to cultivators as takavi when necessary.