Despite pending clearances delaying the launch of Bangalore’s metro, the Karnataka government is planning a slew of initiatives to make metro travel a breeze. As part of this initiative, the Bangalore Metro Rail Corporation has tied up with the State Bank of India to come up with a debit-cum-transit card. In addition to a transit card, the SBI debit-cum-transit card can be used for ATM transactions, at shops and malls, and also at the bank’s green channel counters according to bank officials.
“Initially, this card will be used for Bangalore metro. However, travelers can use it in other metros like Delhi and Kolkata on a later date,” Pratip Chaudhuri, chairman of SBI, said here while launching it in Bangalore on Wednesday. SBI debit-cum-transit card comprises of an e-purse that facilitates storing rupee value for travel in ‘Namma Metro’. The e-purse can be topped up through any of SBI’s banking channels like ATM, mobile and interent banking apart from cash. According to Bangalore Metro officials, the card was the first of its kind in the world which was yet to be introduced even for the communters of London’s tube. He also said, this facility would also be provided by other banks after the launch of the metro rail in the city.
Apart from this transit card, the country’s largest public sector lender has also extended Rs 850 crore of loan towards the Bangalore metro at a nominal 0.75 per cent higher than the base rate. “SBI has extended a Rs 850 crore loan to Bangalore metro with an base rate plus 0.75 per cent when it is difficult to find loans even at 2 per cent higher than the base rate,” N Sivasailam, managing director of BMRCL, said. The launch of Bangalore metro has been deferred twice in the recent past as it is yet to receive safety clearances from the Railways. It is expected to be launched soon after receiving clearances from Railway Board.
“Presently, Research, Design and Standards Organisation under the Railways (RDSO) has completed oscillation trials on ‘Namma Metro’ Reach 1 stretch. After receiving the report, it will be sent to the Railway Board for certification,” Sivasailam said.