Govt to launch ‘Badavara Bandhu’ for street vendors

Cooperation Minister Bandeppa Kashempur speaks to mediapersons in Mangaluru on Wednesday.

The government will launch ‘Badavara Bandhu’— a loan scheme to rescue street vendors from the clutches of private moneylenders. The scheme would be launched before Deepavali, said Cooperation Minister Bandeppa Kashempur, on Wednesday.

He told the media that moneylenders lend Rs 700 in the morning and charge an interest of Rs 300 by evening. Via mobile banks, the department would disburse loans in prominent markets. The loan would be Rs 2,000- Rs 10,000. The vendor repays the loan after the day’s sales.

Over 5,000 Bengaluru street vendors, 3,000 in other city corporation areas and 1,000 in district headquarters, would benefit from the scheme. Totally 53,000 street vendors would benefit, the minister noted.

For self help group (SHG) members, Rs 10 lakh would be released under the Kayaka scheme. As much as Rs 5 lakh is interest free; and rest will be charged 4% interest.

Common software

Kashempur said a common software for all the primary agriculture cooperative societies (PACS) in the state, would be installed. “It facilitates uniform accounting. I have told the principal secretary to set up a committee and submit a report in 15 days,” he added. The SCDCC had initiated common software in DK and Udupi districts, he confirmed. 

The minister said that in DK, Rs 713 crore crop loans taken from cooperative societies would be waived.

“During the Siddaramaiah regime, Rs 380 crore was waived in DK district. The government has written to nationalised banks seeking information on the crop loans. When it is received, nationalised bank loans will be waived,” he added.

Israel technology

Israel’s farming technology would be implemented in select places. He said that a high-level committee would submit its report on the technology within 10 days. The technology would be used for improving agriculture and for efficient water management. 

The minister said the government would issue ‘debt free’ certificates to farmers benefiting from the loan waiver.

“The certificates can be submitted to banks and fresh loan (matching the amount waived) can be availed. Crop loans to the tune of Rs 9,000 crore would be waived in cooperative societies,” Kashempur noted.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry

Comments:

Govt to launch ‘Badavara Bandhu’ for street vendors

0 comments

Write the first review for this !