“ 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 .