Hyderabad: In accordance with the court orders, the Telangana State Road Transport Corporation (TSRTC) has decided to utilize the loan amount for clearing the dues of the Credit Cooperative Society (CCS).
Telangana State Transport Minister Ajay Kumar on Sunday held a review meeting on the operations and the earnings of the organization. He said that Rs.1500 crores have been assigned in the state budget for the corporation whereas another Rs.1500 crores will be granted as non-related budget funds.
Kumar said that the funds have been transferred to the corporation monthly. After government assurances, the banks have sanctioned a loan amount of Rs.500 crores to the corporation, he added.
The Transport Minister prepared a detailed plan on the utilization of the loan amount. He said the financial requirements of the corporation would be the priority. Retired employees will also get benefits from the loan amount, he said. Kumar expressed happiness over the daily income of Rs.9 crores. He hoped with an increase of another 2-3 crores, the financial stability of the corporation will be enhanced.