KSRTC excludes KTDFC from consortium to avail Rs 3100 cr loan, Kerala bank roped in
KSRTC. Photo: Representational Image/File Photo
Thiruvananthapuram: The state government has given sanction for the Kerala State Road Transport Corporation (KSRTC) to exclude the Kerala Transport Development Finance Corporation (KTDFC) from the consortium of banks as part of availing loan amount of Rs 3100 crore. KTDFC was excluded citing that the corporation levied higher interest rates than that of other member banks in the consortium.
The administrative committee of the KSRTC held a meeting in November 2024 and decided that KTDFC’s loan share of Rs 137.5 crore could be excluded, and Kerala bank expressed willingness to take over the loan amount offered by KTDFC. It was then decided to sign agreements with the Kerala bank. The Chairman, KSRTC requested the state government to ratify this decision.
The government gave approval for the decision citing that the properties given as collateral for member banks as per the conditions of consortium shall be given as collateral for Kerala Bank also. The member banks in the consortium have given no objection certificate for Kerala bank to take over the loan share of KTDFC.
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