The Hindu Business Line : Pvt lenders still rule rural side

POST-LIBERALISATION, the grip of private moneylenders over rural households has increased, according to the latest findings of the Rural Labour Enquiry (RLE) report released by the Union Ministry of Labour earlier this week.

According to the seventh RLE findings, while the share of banks and other Government agencies as the source of debt for rural households stands reduced between 1993-94 and 1999-2000, the share of private moneylenders and cooperative societies has increased. The share of private moneylenders, as the source of debt for rural households, has increased from 27.6 per cent in 1993-94 to 31.7 per cent during fiscal 1999-2000 while the share of cooperative societies has increased from 7.9 per cent to 13.1 per cent during the same period.

On the other hand, while the share of banks has reduced from 18.9 per cent to 17.2 per cent, that of the Government also came down to 5.4 per cent during 1999-2000 from 8.3 per cent in 1993-94, the report states.

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Pvt lenders still rule rural side