Govt approves KSRTC's request to borrow Rs 10 cr to pay salaries

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Representational Image | Photo: Sreejith P Raj / Mathrubhumi

Thiruvananthapuram: Kerala Government has approved KSRTC's request to borrow Rs 10 crore from a cooperative society to pay salaries for the month of January.

The loan will be made available from Transport Workers Cooperative Society. In the past, KSRTC has borrowed money from similar cooperative bodies to disburse salaries.

Meanwhile, KSRTC had deducted a certain amount from employees’ salaries who took loans from the same cooperative society. However, KSRTC didn't submit the sum before society. But, KSRTC was forced to settle these arrears to apply for the loan.

Meanwhile, the state government, which is facing a financial crisis, hasn't approved to finance of Rs 50 crore requested by KSRTC.

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