The Telangana State Road Transport Corporation, due to the COVID-19 pandemic, has sustained a loss of ₹ 2,600 crore.
The transport juggernaut issued a statement that with buses off the road on account of the pandemic, there was a lack of revenue. Further, bank loan interest, and provident fund also increased during this period.
In an effort to ameliorate the situation, ₹1,000 crore as a loan has been sanctioned. The first phase, Bank of India has released ₹ 500 crore and the second instalment of ₹500 crore will be released after a month. “After receiving the total loan of ₹1,000 crore, the TSRTC will approach the Honourable Chief Minister Sri K Chandrasekhar Rao for directions and advise on how to disburse the funds and thereafter the funds will be disbursed accordingly on priority basis,” the statement reads.
