Thiruvananthapuram: Four commercial complexes, including the one at Thampanoor that is part of the KSRTC-KTDFC joint venture, will be given as collateral to Kerala Bank. This is in lieu of the Rs 450 crores KSRTC owes to KTDFC. 

Due to the financial crisis, KTDFC has not been able to return the amount it owes to Kerala Bank. KTDFC maintains that KSRTC has not yet settled the loan taken and that's why the former is not able to settle the amount.

An attempt is being made to solve the problem by offering land collateral. This project was put forward by KSRTC chief Biju Prabhakar during the discussions held with labour organisations. 

It was also decided that an inspection of the monthly income and expenditure of KSRTC will be examined on the 16th of every month by representatives of each of the recognised unions. 450 electric buses that are provided to SWIFT as a part of the smart city project will be run as fast passenger buses.  

The management also informed that the multi-duty system, initiated on request of the unions, may be scrapped if found to be non-profitable. The management’s decisions including the transfer of the commercial complexes were repudiated by AITUC and BMS.