CM launches  Badavara Bandhu scheme

Team Udayavani, Nov 23, 2018, 12:42 PM IST

Bengaluru: Chief Minister HD Kumaraswamy on Thursday, November 22 inaugurated Badavara Bandhu scheme, a scheme aimed at lending financial aid to the street vendors who otherwise depend on money lenders for small finance to run their businesses.

Kumaraswamy had announced the scheme while presenting the state budget in order to  free them from clutches of money lenders charging high rates of interest to these small traders. As per the initiative the loan will be given to the small traders through a transportation vehicle, informed sources. 

The traders can avail loans ranging from Rs 2000 to Rs 10,000 and repay the same within three months of time. Traders who are prompt in the repayments become eligible to get 10 per cent more loan next time. 

There are about 4.50 lakh street vendors in the state, with over 80,000 in the BBMP limits. The local bodies are issuing identity cards to the roadside vendors in relation to this scheme. However, 1.80 lakh vendors in various local bodies and 24,650 vendors in the BBMP limits have received the cards. Apart from the identity card issued by local bodies, the street vendors should possess Aadhar cards, BPL ration cards, the photo of the place where they conduct business and zero balance saving bank account opened with banks.

Deputy Chief Minister Dr. G. Parameshwara, Co-operation Minister Bandeppa Keshempura, Mayor Gangambike and others were present.