The Kerala State Road Transport Corporation (KSRTC) has come up with a solution to tackle the shortage of small denomination currencies which has been causing inconvenience to both the commuters and staff. The corporation is all set to roll out travel cards which offer an unlimited travel for a month, in the denominations of Rs 1000, Rs 1,500 and Rs 3,000.

“The idea was presented before finance minister T M Thomas Isaac and transport minister A K Saseendran and they have given the nod to take it forward,” KSRTC managing director M G Rajamanickam said. The cards will be issued at Rs 1,000 for travel ling in KSRTC ordinary buses within a district. A person holding a card of Rs 1,500 will be eligible to travel in the inter-district services. For travelling in superfast and fast passenger services, Rs 3,000 cards will be issued.

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The cards that will be of the size of an ATM card, will have marked on them the name of the person availing it along with the number of an identity card that heshe will produce for issuing the card. While travelling in the bus, the passenger needs to show the valid card along with the identity proof which is mentioned in the card. The corporation plans to roll out some 10,000 cards to begin with that will be increased immediately on demand.
The travel cards are expected to be of great help to commuters who, after demonetisation, are finding it difficult to tender change with the KSRTC staff. KSRTC is also finding it difficult to provide change to the passengers. The new idea is being mooted by the corporation as a way to mop up revenue especially when there is a serious liquidity crunch in the economy. The KSRTC management feels that the issu ing of cards will be beneficial to the corporation in making some extra revenue.

According to the latest budget figures, KSRTC is currently operating at a loss of Rs 85 crore per month, and the total debt of the corporation is Rs 3,446.92 crore.According to KSRTC sources, it requires 4.5 lakh litres of diesel each day for which it spends Rs 2.75 crore.

It is also giving pensions to approximately 40,000 retired KSRTC staff which alone needs Rs 52.5 crore at present of which government is contributing Rs 20 crore.
SOURCETimes of India
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