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TSRTC gets Rs 11 cr. thru’ cashless transactions: Minister

In the wake of demonetization of big currency notes and its implications, the Telangana State Road Transport Corporation (TSRTC) is all set to go in for cashless transactions through its regular business. The RTC earned Rs 11 crore income after introducing cashless transactions, Transport Minister, P Mahender Reddy said here on Monday after a review meeting with the RTC officials.

The minister stated that the RTC will work on a target to achieve 100 per cent cashless transactions by the end of this financial year. The RTC will provide best services and online transactions will prove handy as the government was pushing for cashless transactions after demonetization. He directed the officials to take steps in this direction by using necessary equipment at all the bus stations and buses. The TSRTC received Rs 11 crore after introducing cashless transactions and will continue to do so. The RTC used to get regular monthly income of Rs 9 crore,  including 90 per cent of cash transactions and the remaining 10 per cent through cashless transactions. The minister felt that the awareness among the people on the cashless transactions will help overcome the effect of demonetization.