Explain the following statements with reasons.

Farmers in India became bankrupt.

Farmers took a loan from the moneylender, and the broker acted as the middleman who exploited the farmers. The farmers had to sell their products at a low price to the merchants and the middleman; they had to sell in whatever price it was demanded. The farmers had to mortgage their land when they could not pay their loan back to the moneylender. This led to a vicious cycle of taking more loans which eventually led to bankruptcy.