TSRTC Earns Rs. 11 Crores Through E-Transactions

Amid the Centre and the State's drive for a cash-free economy, the Telangana State Road Transport Corporation (TSRTC) reportedly earned an income of Rs. 11 crores through electronic transactions in less than a month of its implementation.

In a review meeting held with RTC officials on Monday, Transport Minister P Mahender Reddy said that the earning revenue in crores within a few days of the drive was a motivating development that would help achieve a fully cash independent society.

The Minister said that the RTC would now work on the target of achieving 100% electronic transactions by the end of this financial year.

The RTC used to get a monthly income of Rs. 9 crores, of which 90% of the transactions were cash, and the remaining 10% were electronic.

The transport system would provide the best possible services to people, and help make the Centre's demonetization move worthwhile, Reddy said.

He directed the officials to take steps in this direction by installing necessary equipment including swipe machines at all bus stations and buses in Telangana.

The Minister said that creating further awareness on cashless transactions among people would help them to overcome the negative effects of demonetization.