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Borrowing and repayment hardships: evidences from farmers in Haryana

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  • Jakhar, Babloo
  • Kait, Rohtas
  • Kumar, Vijay

Abstract

Subject and purpose of work: The paper focuses on the problems faced by farmers in obtaining and repaying loans from institutional and non-institutional sources. Materials and methods: The study was conducted in Haryana state, India. It was based on a field survey involving 600 farmers. Proportionate sampling technique was employed and pre- tested schedules were filled during vis-a-vis interviews. Results: The findings of the study highlight main problems faced by farmers in acquiring and repaying loans. They include: no loan without security, ambiguous terms and conditions, the time-consuming procedure of granting loans, not farmer friendly bank officials, and the request for bribes. In the case of non-institutional sources, main problems include: lack of security, deterioration of social status, and hesitation in mortgaging agricultural land. Furthermore, low price of agricultural produce, crop failure, and the high-interest rates charged by non-institutional sources were major constraints in the timely repayment of loan amounts. Conclusions: Several constraints existed in granting loans to farmers. Government should support and provide hassle free loans to farmers.

Suggested Citation

  • Jakhar, Babloo & Kait, Rohtas & Kumar, Vijay, 2022. "Borrowing and repayment hardships: evidences from farmers in Haryana," Economic and Regional Studies (Studia Ekonomiczne i Regionalne), John Paul II University of Applied Sciences in Biala Podlaska, vol. 15(4), December.
    • Handle: RePEc:ags:plecrs:339243
    DOI: 10.22004/ag.econ.339243
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    References listed on IDEAS

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    1. Singh, Sukhpal & Bhogal, Shruti & Singh, Randeep, 2014. "Magnitude and Determinants of Indebtedness Among Farmers in Punjab," Indian Journal of Agricultural Economics, Indian Society of Agricultural Economics, vol. 69(2), pages 1-14.
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    Keywords

    Agricultural Finance;

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