Problems Faced by the Borrowers in Utilization and Acquiring of Co-operative Bank Loans in Nagaland
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The present study was conducted with the objectives to obtain the information regarding the problem faced by borrowers as well as bankers while dealing with financial aspects. It was observed that highest incidence of the problem faced in the utilization of loan at the time of disbursement of bank loans by 100.00 percent respondents, followed by disbursement of loan/installment release by 55.00 percent, other needs by 46.67 percent and the amount by 21.67 percent, respectively. The foremost problem faced as the Guarantor/Securities/Certificates by 100.00 percent, followed by guidance by the bank was 71.67 percent, bank process by 66.67 percent, forms issued by the bank by 60.00 percent, knowledge about type of loan by 51.67 percent, filling up of forms by 48.33 percent and then knowledge about banks by 38.33 percent, respectively. While the highest incidence faced by the respondents regarding the supervision and other agricultural & allied by 100.00 percent, followed by interest rates faced 81.67 percent, funds & capital faced by 80.00 percent, knowledge and skill problem faced by 76.67 percent and other problems viz; transportation, bank knowledge, repayment period, insect-pest and diseases and marketing. The foremost important problems that the banker in general faced were the existence of high overdue it was due to non-repayment of dues. Most of the borrowers were not sincere in repaying their due installment and this caused stagnation in lending for further developmental activities and others wanting to take loan. The co-operative bank in general gives financial assistance to people from all walk of life. Even financing to the remote areas and other localities, and this has caused supervision problems due to poor connectivity and the distance between the bank branch and the loanees. The bank related information that needs to be passed to farmers gets delayed. Also the distance has caused the problems in relation to training that needed to be imparted to them.
Bank, co-operatives, credits, finance, marketing, prices.