Now the problem of crises to slow down soon. Yes, the Telangana government on Monday 19-Oct-2015 gave approval for the Telangana State Road Transport Corporation (TSRTC) to avail a loan of Rs 500 crore from banks on government’s guarantee.
GO issued to 500 Cr Loan For TSRTC
The government on Monday issued GO Ms No 45 permitting the RTC to borrow Rs 500 crore from commercial banks.
Higher officials talk about loan
The TSRTC MD G V Ramana Rao wrote a letter to the government on October 5 stating that the Corporation requested for the principle permission to TSRTC to obtain government guaranteed loans from the Commercial Banks to a tune of Rs 500 crores during the financial year 2015-16 to meet working capital requirements and enable the corporation to avail the loan amount to discharge overdue liabilities.
It is learnt that the RTC would use the loan amount to disburse the arrears of the employees.
The MD Ramama specially thanked chief minister KCR for his commitment towards tsrtc.