“ Apple growers prefer moneylenders to banks because traders provide a market as well as money, and are willing to finance for emergencies as well as for crop requirements.” – A study
Timely intervention by J & K Bank rescues growers from usurious moneylenders
Apple Economy
“ Apple growers prefer moneylenders to banks because traders provide a market as well as money, and are willing to finance for emergencies as well as for crop requirements.” – A study
| KASHMIR SCAN | May 2013 | 1 |
Timely intervention by J & K Bank rescues growers from usurious moneylenders
An independent study conducted in 2011 by Enterprise Solutions to Poverty( ESP) revealed that over 75 % of small apple growers in the Kashmir valley get their financing from moneylenders and only 10 % avail finance from banks. Enterprise Solutions to Poverty( ESP) is an innovation group headed by
Nancy M Barry, who is recognized as a global leader in building finance and enterprise systems The study revealed that even fixed investment for irrigation or tree replenishment is rare and suggested that“ small farmers will need access to money, technology and procurement options if the high cost of trader finance and procurement is to be avoided, and if farmer productivity and incomes are to increase.”
Interestingly, according to the study, farmers prefer moneylenders to banks because traders provide a market as well as money, and are willing to finance for emergencies as well as for crop requirements.