PROVISION OF BORROWING FACILITIES. 449 



in many other ways the desired combination has already been brought 

 into play. 



Satisfactory features of the general development of the co-opera- 

 tive movement in India have been that only a small proportion of the 

 capital of the societies has been advanced by the State, that the purposes 

 to which loans have been applied have been almost entirely productive, 

 and that loans, generally speaking, have been punctually repaid. The 

 rates of interest charged vary, but are considerably lower than those 

 charged by local money-lenders; it is estimated that, at a low compu- 

 tation,the agriculturists of India are saved 100,000 in interest 

 charges for every 1,000,000 lent out by co-operative societies. 



