<p>The civic body will borrow Rs 800 crore to clear the balance amount due on various projects carried out by contractors and the Karnataka Rural Infrastructure Development Limited (KRIDL).</p>.<p class="bodytext">The Palike's tax and finance standing committee would submit a proposal for the loan at the council meeting on Monday.</p>.<p class="bodytext">The proposal noted that development work has slowed down since contractors stayed out of the tender process due to outstanding bills. This has happened at a time when the heavy rain between August and October caused severe damage to public properties that need urgent repairing.</p>.<p class="bodytext">The proposal asks the government to provide the funds, barring which the civic body has to borrow the money at 4% interest to clear the arrears. The proposal also includes a short-term loan from a nationalised bank for competitive interest.</p>.<p class="bodytext">A proposal to give plots to the Scheduled Castes and Scheduled Tribes within the BBMP jurisdiction will be placed before the council for approval. The city body has a list of 1,111 beneficiaries of the scheme from West, South and Rajarajeshwari Nagar zones.</p>.<p class="bodytext">It would also table a proposal at the council meeting to fill 702 vacant BBMP posts, the recruitment for which will be done by the Karnataka Public Service Commission (KPSC).</p>.<p class="bodytext">Though it was earlier decided to recruit through the Indian Institute of Science, the KPSC was brought in since there is no legal means of conducting the recruitment via the IISc.</p>
<p>The civic body will borrow Rs 800 crore to clear the balance amount due on various projects carried out by contractors and the Karnataka Rural Infrastructure Development Limited (KRIDL).</p>.<p class="bodytext">The Palike's tax and finance standing committee would submit a proposal for the loan at the council meeting on Monday.</p>.<p class="bodytext">The proposal noted that development work has slowed down since contractors stayed out of the tender process due to outstanding bills. This has happened at a time when the heavy rain between August and October caused severe damage to public properties that need urgent repairing.</p>.<p class="bodytext">The proposal asks the government to provide the funds, barring which the civic body has to borrow the money at 4% interest to clear the arrears. The proposal also includes a short-term loan from a nationalised bank for competitive interest.</p>.<p class="bodytext">A proposal to give plots to the Scheduled Castes and Scheduled Tribes within the BBMP jurisdiction will be placed before the council for approval. The city body has a list of 1,111 beneficiaries of the scheme from West, South and Rajarajeshwari Nagar zones.</p>.<p class="bodytext">It would also table a proposal at the council meeting to fill 702 vacant BBMP posts, the recruitment for which will be done by the Karnataka Public Service Commission (KPSC).</p>.<p class="bodytext">Though it was earlier decided to recruit through the Indian Institute of Science, the KPSC was brought in since there is no legal means of conducting the recruitment via the IISc.</p>
