ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Informal Rural Finance

Informal Rural Finance CHANDAVARKAR's review informal Rural Finance in Maharashtra' (EPW, March 10) proved especially interesting to me since academician friends keep telling me that the concept of interlocked factor markets has become old fashioned and that most scholars feel that such interlocking does not occur in actual practice in India. The milk collector-cum-moneylender of Sangli cover- ing loans for buffalo purchase, daily milk collection, weekly payments for milk, supply of fodder, concentrates, etc, and not charging interest on loans while making up for that in profits in the other transactions, and basing his relationship on loyalty by the livestock breeders in supplying milk to the collector, appears to be a classic example of interlocking of factor markets.

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