TSRTC receives Rs 500 crores as loan

Hyderabad: The Telangana State Road Transport Corporation (TSRTC) has given salaries to all its employees after it received a loan amount of Rs.500 crores for which the state government has given the guarantee.

An amount of Rs.110 crores has been kept aside for the TSRTC Credit Society. Another Rs.2 crores were distributed as pension benefits to the employees who have retired from their services since 2018. Medical and marriage loans have also been approved. Former employees have been provided with the 3 months benefits of the Staff Retirement Scheme.

The TSRTC has also decided to purchase 280 new buses with Rs.100 crores so that the new buses can go to farther destinations. As a result, the income of the TSRTC could increase substantially.

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Recently, the state chief minister K.Chandrashekhar Rao has held a review meet with the Transport ministry senior officials regarding the issues concerning the corporation. The chief minister was informed by the Transport officials that new luxury buses which could reach farther destinations should be purchased. After the nod given by the chief minister, the TSRTC is set to purchase 100 new buses.

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