Sakrama: banks to extend loans

Sakrama: banks to extend loans

Staff Reporter

BANGALORE: Five banks will give loans for paying regularisation fees under the Sakrama scheme, Bruhat Bangalore Mahanagara Palike (BBMP) Commissioner S. Subramanya has said at a press conference.

These are the State Bank of Mysore, Indian Overseas Bank, Bank of India, Axis Bank and HDFC Bank. The banks will treat the loan as personal loan, home loan or real estate loan, depending on the borrower, some representatives of the banks present said. Some have even drawn out schemes specifically for Sakrama.

“People will have the facility to pay the loan over the next 10 years even,” Dr. Subramanya said. He added that people can enter into an agreement with the bank and the BBMP, where in the bank pays the regularisation fees to the palike directly. “In case the application for regularisation cannot be processed, then the BBMP will refund the loan amount to the bank,” he said.

That apart, people can take loans with the banks directly and pay the regularisation fees through demand drafts, he said.

This move comes after the feedback received from certain sections of the public who have complained about the high rates charged for regularisation. They have asked for payment of the regularisation fees in instalments.

“But allowing for instalments, extending the last date from December 14 or even incorporating other violations not set in the scheme is not up to the BBMP. It has to be the Government’s decision,” Dr. Subramanya said.
Processing

The BBMP will start processing of the applications from next week. It will be done according to seniority basis and names of people whose applications will be processed on a particular date will be put up in the respective zonal offices, he said.
On website

The list of engineers is put up on the palike website, www.bmponline.org.

The Institute of Engineers has also opened a phone line for public assistance. The number is Ph: 22264698. The palike, which receives nearly 120 calls a day, has opened two more hotlines which will function on all days from 11 a.m. to 2 p.m. The phone numbers are 32440101, 32446161 and 32448181.