Class 6 Social Science - Social and Political Life - Chapter Rural Livelihoods NCERT Solutions | Imagine you are a member of a fishing fa

Welcome to the NCERT Solutions for Class 6th Social Science - Social and Political Life - Chapter Rural Livelihoods. This page offers a step-by-step solution to the specific question from Exercise 1, Question 3: imagine you are a member of a fishing family and y....
Question 3

Imagine you are a member of a fishing family and you are discussing whether to take a loan from the bank for an engine. What would you say?

Answer

A fisherman takes a loan from a bank to purchase an engine and not from a moneylender. Banks loan interest is lower and the time period for the payment of loan will be long, where a family can get enough time to repay the loan. The banks are the reliable source of the loan that may not fall into the dept trap.

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