Distinguish between:
Short Term Credit and Medium Term Credit.
Short Term Credit | Medium-Term Credit |
---|---|
(i) It refers to a loan not exceeding 2 years. | (i) It refers to a loan not exceeding 2 years. |
(ii) It is taken to fulfill short-term requirements like the purchase of fertilizers, buying of HYV seeds, for meeting expenses of religious or social ceremonies, etc. | (ii) It is taken to make improvements on the land, buying cattle, or agricultural equipment, digging of canals, etc. |