(a) State any two advantages of micro-credit system of financing in rural areas of India. (b) "In the current situation, Information Technology plays a vital role in achieving food security in a nation like India." Justify the given statement.

Question

Accepted Answer

(a) Advantages of micro-credit system:

1. Collateral-free loans
2. Reasonable interest rates
3. Small loan amounts
4. Flexible repayment
5. Empowers women

(b) Information Technology role in food security:

1. Precision farming
2. Supply chain optimization
3. Market linkage
4. Financial inclusion
5. Knowledge dissemination

Micro-credit and IT together can transform rural economy and ensure food security in India.