KOZHIKODE: Think of a resourceful KSRTC which has a backing of about Rs 5,000 crore, that too mobilised through market-linked smart travel cards, ranging between Rs 200 and Rs 5,000. This has been the dream of Mr K.G. Muraleedharan, a retired KSRTC official, for the last many years. It is sheer commitment to the corporation with immense untapped market potential that has moved him to pursue this idea. Mr Muraleedharan has intimated KSRTC MD M.G. Rajamanickam and Finance Minister Thomas Isaac about his plan. Instead of the present travel-only cards, the KSRTC can launch market-linked travel cards to facilitate about 40 lakh passengers who depend on the corporation every day and tap their commercial potential, according to Mr Muraleedharan.
“The scheme works like this. A passenger who buys the travel card can purchase all the necessary items from the market with the card starting from grocery to gold. Moreover, the same passenger can remit his electricity bill, KSFE chitty and various fees of the government and also can book cinema tickets with the card. “If KSRTC manages to grab a minimum 10 percent of the Rs 1,000 crore worth daily commercial activity of the state (Rs 100 crore), the idea will be a success, ” he said and added that if well-packaged and supported by the state, it will not be a big task.
The cost of KSRTC bus fare alone comes to Rs 7 crore per day which amounts to Rs 210 crore a month. To attract customers, bonus points could be given to customers who use the travel card. If the strategy clicks, the KSRTC has to ensure smart cards worth Rs 3,600 crore per month and has to ensure at least three months- stock in advance, which means Rs 10,800 crore in advance. According to the project, the KSRTC would get a revolving fund of at least Rs 5,000 crore which can be utilized for developmental activities.
Mr Muraleedharan hopes that with the backup of the state, the state cooperative bank can transfer the funds worth the amount to the account of KSRTC, receiving the smart cards which can be channelised to retailers through district and primary cooperative banks. “The investment of KSRTC is limited with the cost of smart cards and swiping machines,” says Mr Muraleedharan. “I am not a management or financial expert and I welcome the opinion of experts on the project to make it foolproof,” he adds.
