CHENNAI: The cancellation of scheduled trips due to shortage of crew to operate buses has resulted in the State Transport Undertakings in Tamil Nadu reporting a total revenue loss of Rs 495.27 crore from 2017-18 to 2021-22. A report of the office of Comptroller and Auditor General tabled in the Assembly on Tuesday, however, revealed that hundreds of bus drivers …
Indian banks are reluctant to lend to electric-bus makers for supply to ailing state transport operators over concerns on recovery of dues, hurting the country's goal of curbing vehicle emissions, said banking, industry and government sources. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Mahesh Babu, chief executive of e-bus maker Switch Mobility, said that "most of the contracts related to STUs are seen …
The White Paper has highlighted the mismanagement of the finances of the State Transport Undertakings that have been weighed down by an outstanding debt of nearly ₹40,000 crore. The eight STUs have been leaking money, with their total outstanding debt of ₹39,883 crore being the second highest after that of the Tamil Nadu Generation and Distribution Corporation. The operation of …
