Mangaluru, Oct 10, 2018: Chief Minister HD Kumaraswamy would be launching a Badavara Bandhu scheme aimed at offering loan to street vendors and thus freeing Karnataka of the menace of meter baddi. The scheme would be launched ahead of Deepavali, State Minister for Co-operation Bandeppa Kashempur said.
Speaking to reporters after reviewing the progress of SCDCC Bank here on October 10, Wednesday, he said under the scheme, street side vendors would get interest free loans ranging from Rs 2,000 to Rs 10,000 and added that the scheme will have a total of 53,000 beneficiaries in the state including 3,000 from Mangaluru and 5,000 from Bengaluru.
The Department of Co-operation would launch another scheme called Kayaka aimed at offering loans upto Rs 10 lakhs for self-help groups to set up business. If Rs 5 lakh loan would be at zero percent interest, the rest Rs 5 lakh will be levied 4% interest, he said.
A total of Rs 713 crore farm loans of farmers of the district would be waived under the loan waiver scheme of the coalition government, he said adding Rs 380 crore loan of farmers from the district had been waived during the tenure of the erstwhile CM Siddaramaiah.
He informed that a common software has been incorporated for all Primary Agricultural Credit Co-operative Societies in the district.
SCDCC Bank Chairman M N Rajendra Kumar, State Co-operative Societies Registrar M K Ayyappa, District Co-operative Societies Deputy Registrar B K Saleem, Deviprasad Shetty and others were present.