Assertion (A) “The problem of rural credit is not primarily one of rural credit, it may be said to be one of rural minded credit.” Reason (R) The Indian economy has yet to come out of rural mentality.

The correct answer is: (A) is correct, but (R) is incorrect.

Assertion (A) is correct because it highlights the fact that the problem of rural credit is not simply a matter of providing credit to rural areas. It is also a matter of ensuring that the credit is used in a way that benefits the rural economy. This can be done by providing credit to small businesses and farmers, and by investing in infrastructure and education in rural areas.

Reason (R) is incorrect because it suggests that the Indian economy is still stuck in a rural mentality. This is not the case. The Indian economy is growing rapidly, and it is becoming increasingly urbanized. The rural economy is also growing, but it is growing at a slower pace than the urban economy.

In conclusion, (A) is correct because it highlights the importance of providing credit in a way that benefits the rural economy. (R) is incorrect because it suggests that the Indian economy is still stuck in a rural mentality.