Badavara Bandhu Scheme Karnataka (2022)
|Name of the Service||Badavara Bandhu Scheme Karnataka|
|Department||Department of cooperation|
|Beneficiaries||Citizens of Karnataka|
The Government of Karnataka has launched the ‘Badavara Bandhu’ scheme to help street vendors, small-time traders and footpath hawkers to get easy capital to conduct business because these people require working capital on a day to day basis
Benefits of Badavara Bandhu Scheme Karnataka
Under this scheme, the small traders will get loans of up to Rs.10,000 without any interest and collateral.
The beneficiaries will have the flexibility of repaying the loan in daily instalments of Rs.100 or one-time repayment within three months.
If they repay within the stipulated time, they are eligible for a fresh loan of up to Rs.15,000.
There would be a decrease in the exploitation of the workers.
Application Procedure of Badavara Bandhu Scheme Karnataka
The street vendors who require single day loans can go to the government banks and deposit their Identity Card, Aadhar Card, PAN Card, Driving Licence early in the morning.
These vendors can repay the loan by evening after the day sales and retrieve their identity cards.
In case the vendor fails to repay the loan in the evening, then their ID Card will be retained until the time loan is repaid.
This will also blacklist the person for further day loans anywhere in the state.
Status of Badavara Bandhu Scheme Karnataka
In the State, a total of 7.69 crore interest-free loans have been distributed to 13522 street vendors under the ‘Badavara Bandhu’ scheme. By this, small street vendors have been freed from the exploitation and atrocities of money lenders, thereby facilitating to run of their business.
You can find a list of common Government Schemes queries and their answer in the link below.
Government Schemes queries and its answers
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