BBMP's new insurance for Rs 100 a month

BANGALORE: It looks like Bruhat Bangalore Mahanagara Palike (BBMP) has learnt a lesson after Russel Market fire incident. Now, it is insisting on vendors who have shops in BBMP markets insurei

Published: 26th March 2012 03:04 AM  |   Last Updated: 16th May 2012 09:44 PM   |  A+A-

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BANGALORE: It looks like Bruhat Bangalore Mahanagara Palike (BBMP) has learnt a lesson after Russel Market fire incident. Now, it is insisting on vendors who have shops in BBMP markets insureing their shops. BBMP will soon issue circulars to Russel Market vendors to get insurance by paying Rs 100 per month.

Its been a one month since the Russel Market fire incident took place. It may be recalled that on February 25, 123 shops were gutted resulting in a loss of Rs 1.2 crore.

Chief Minister D V Sadananda Gowda had announced Rs 50,000 compensation per vendor. However, vendors claim that they underwent loss of Rs 10 lakh.

When contacted Roopa Ramesh, Chairperson, Standing Committee (Market) said that Commissioner M K Shankarlinge Gowda issued a circular recently to the concerned officials to insist Russel Market vendors to take up insurance for their shops.

“Under this, shop owners have to pay Rs 100 per month and in future, if any such accident happens, they will get full repayment of the loss. Officials will issue the circular to vendors next week,” she said.

However, BBMP is yet to finalise the insurance company.

“IT can be either private insurance or government. I am confident that vendors will agree. This will benefit them in the long term,” she said.

BBMP has 152 markets with 6,442 shops.

According to a senior BBMP official, they are planning to extend the same to all the markets and vendors.

“Many of these markets are in dilapidated condition. In future or present, if any such fire accident takes place, BBMP will not have sufficient funds to pay compensation. If it is insured, insurance company will repay,” official said.

Meanwhile, shop owners at Russel Market have given renovation work to KK Infrastructure Private Limited, a private firm. BBMP even slapped a legal notice.

However, the renovation work did not stop. When asked, Roopa Ramesh said they (vendors) got it ready themselves. “We feel it is not strong. We have told them to move to the shed put up in front of Russel Market for the time being. But vendors are not ready to move. In future, if something happens again at Russel market, BBMP cannot take the responsibility,” she added.

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