“Karnataka State Road Transport Corporation drowning in debt two years after announcement of free bus ride scheme for women: All you need to know”, Opindia, February 5, 2025:

“Facing a severe financial crunch, the Karnataka State Road Corporation (KSRTC) is seeking a bank loan of about Rs 624 crore to clear its arrears including statutory dues like provident fund (PF) and fuel payments. According to a report of the Moneycontrol, the KSRTC has invited an expression of interest from financial institutions and commercial banks.

The state-owned public transport service seeks the loan amount in one instalment with a repayment period of seven years against primary and secondary security to be provided by the state government. KSRTC Managing Director V Anbukumar said that the government has approved a Rs 2,000 loan to all the RTCs to clear all the dues which are around Rs 4800 crore till November 2024.

“This loan is being taken by KSRTC as per the orders of the government. All SRTCs will avail of Rs 2,000 crore loan to clear pending dues related to provident fund and diesel, ” Anbukumar told Moneycontrol…..”

Read the full article at Opindia.com