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Co-operation is a world-wide movement. It was introduced in India in the early years of this century in
the wake of famines, which had resulted in economic hardship and an alarming increase in the
indebtedness of the farmers to the moneylenders. Co-operative credit on easy terms appeared to be the
best means of getting the farmers out of the vicious circle of indebtedness and poverty. The idea was to
free the farmers from the necessity of having to borrow money on usurious rates of interest from Sahukars
or village moneylenders.