
PM e-Drive scheme: Electric buses to take Bengaluru fleet size to over 10,000
Bengaluru: After stagnating at around 6,700 buses for nearly eight years despite an exponential increase in Bengaluru's population, the city's bus fleet is set to breach the 10,000-mark soon on the back of the addition of 4,500 electric buses, likely over the next one year.
The addition under the PM e-Drive scheme will provide a significant boost to green mobility in Bengaluru. Experts have long advocated that Bengaluru — given its growth rate and attendant urban transport ills — requires no less than 10,000 buses to adequately meet its public transport demand. To make best use of the expanded fleet, they cautioned against prioritising only high-profit routes or renting buses to private companies at the expense of commuters.
For the record, Bengaluru accounts for over 1.2 crore vehicles, and more than 1 crore of them are private bikes and cars. The city, which recently reaffirmed its dubious status of being among the slowest cities for traffic in the world, had failed to add a significant number of buses to its fleet since 2017-18. Currently, the fleet has just 6,800 buses, with electric vehicles accounting for 25% of them.
In a major step towards addressing this, Bengaluru is set to receive 4,500 e-buses under the PM e-Drive Scheme, the largest allocation among all participating cities.
The announcement came after a high-level meeting chaired by Union minister for heavy industries and steel HD Kumaraswamy, which discussed the rollout of the scheme across states.
Prof Ashish Verma, convener of Sustainable Transportation Lab at Indian Institute of Science, welcomed the move but emphasised the need for a strategic approach to implementation. He stressed that simply increasing the number of buses is not enough.
"BMTC must adopt a rational and scientific approach in the deployment of its fleet, including planning routes, optimising schedules, and preventing issues such as bus bunching.
The focus should be on maximising public benefit rather than commercial interests."
A press release from the Union minister's office said 2,000 buses would be allocated to Hyderabad, 2,800 to Delhi, 1,000 to Ahmedabad, and 600 to Surat under the current phase of PM e-Drive.
"From Bengaluru to Delhi, cities are actively embracing e-buses to make public transport cleaner, smarter, and more efficient. We aren't merely allocating e-buses, we're shaping the future of India's transport system with innovation and environmental consciousness," the minister added. "With close coordination between the Centre and states like Telangana, Karnataka, Delhi and Gujarat, we are determined to deliver on the PM e-Drive promise.
" The scheme aims to deploy 14,028 e-buses with a total outlay of Rs 10,900 crore over a two-year period — from April 2024 to March 2026.
Recently, state transport minister Ramalinga Reddy met the Union minister to seek the allocation of e-buses under the central scheme. Currently, BMTC operates 1,405 e-buses through agreements with four private operators. These buses run under the gross cost contract model. Additionally, BMTC is set to induct 370 more buses under existing agreements.
A majority of e-buses in the current fleet were inducted under FAME (Faster Adoption and Manufacturing of [Hybrid and] Electric Vehicles) scheme. As BMTC shifts gears for a greener Bengaluru and better commuting experience for its citizens, it should promote public transport by introducing dedicated bus lanes and other infrastructural improvements, an expert said.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


India.com
42 minutes ago
- India.com
Big move by Mukesh Ambani as Reliance gives Rs 7000000000 order to company named..., it's business is...
(File) Afcons Infrastructure Limited has secured a contract worth Rs 700 crore from Mukesh Ambani-led Reliance Industries for civil, mechanical, installation, testing and commissioning works on the Vinyl Project in Dahej, Gujarat, which is scheduled for completion by June 2026. In a regulatory filing, Afcons Infra said it has been Letter of Award (LOA) from Reliance Industries Limited for a Rs 700 crore contract Afcons Infrastructure share prices surge after Reliance contract Meanwhile, the contract from Mukesh Ambani's Reliance has translated into a significant boost for Afcons in the stock market, with the company's shares closing at Rs 436 apiece on Monday, gaining nearly 3 percent. According to its quarterly results, Afcons Infrastructure witnessed a 23% decline in its net profit to Rs 110.92 crore in the March quarter which ended on March 31, against Rs 144.90 crore in the same quarter a year ago. In the previous quarter, the company had posted a net profit of Rs 148.85 crore. Afcons' revenue from operations stood at Rs 3,223.27 crore in the fourth quarter of FY 25, against Rs 3,636.43 crore in the same period last year. The company's Board of Directors have also approved a dividend of Rs 2.50 for its shareholders. In a stock exchange filing, Subramanian Krishnamurthy, the Executive Vice Chairman (Whole-time Director) of Afcons Infrastructure, said the company's debt metric has improved by a significant margin, with an order book of Rs Rs 36,869 crore, excluding L1 projects worth Rs 10,662 crore. About Afcons Infrastructure A part of the Shapoorji Pallonji Group, Afcons Infrastructure Limited is an Indian multinational construction and engineering company that specializes in infrastructure projects. Afcons has executed more than 350 infrastructure projects in over 25 countries globally, and has worked on key infrastructure projects in India, including the Chenab Rail Bridge in Jammu and Kashmir, and the construction of an underground section of the Kanpur Metro.


The Print
42 minutes ago
- The Print
RBI raises LTV ratio for small ticket loan against gold
LTV ratio on a day means the ratio of the outstanding loan amount to the value of the pledged eligible collateral as on that day. In case of bullet repayment loans, however, the LTV calculation shall take into account the total amount repayable at maturity. The LTV ratio has been fixed at 80 per cent for loan amounts between Rs 2.5 lakh and Rs 5 lakh and 75 per cent for loans above Rs 5 lakh, said the Reserve Bank of India (Lending Against Gold and Silver Collateral) Directions, 2025. Mumbai, Jun 6 (PTI) The RBI on Friday raised the loan-to-value (LTV) ratio for lending against gold to 85 per cent for borrowings under Rs 2.5 lakh from the present 75 per cent, and spelt out other conditions with an aim to regulate the category in a better way with minimum risk. It further said a lender shall not extend a loan where ownership of the collateral is doubtful. 'A suitable document or declaration shall be obtained from the borrower in all cases to the effect that the borrower is the rightful owner of the eligible collateral,' according to the latest directions. Further, multiple or frequent sanction of loans against eligible collateral to the same borrower, aggregating to a value in excess of a threshold to be decided by the lender, must be examined closely as part of the transaction monitoring under the anti-money laundering (AML) framework. According to the directions, a lender should not grant any advance or loan against primary gold or silver or financial assets backed by primary gold or silver, like, units of Exchange-traded funds (ETFs) or units of mutual funds. The RBI said the aggregate weight of ornaments pledged for all loans to a borrower shall not exceed 1 kilogram for gold ornaments, and 10 kilograms for silver ornaments. The aggregate weight of coin(s) pledged for all loans to a borrower shall not exceed 50 grams in case of gold coins, and 500 grams in case of silver coins. 'Gold or silver accepted as collateral shall be valued based on the reference price corresponding to its actual purity (caratage),' RBI said. A lender will have to release or return the pledged eligible collateral held as security to the borrower(s)/ legal heir(s) on the same day but in any case, not exceeding a maximum period of seven working days upon full repayment or settlement of the loan. A few months ago, the RBI had come out with a draft on gold lending, and Malhotra made it clear that the draft is just a reiteration and consolidation of all the regulations issued earlier. Earlier in the day, RBI Governor Sanjay Malhotra said among other facets, the new gold loan rules will also give clarity on the ownership and include the facility for a self-declaration from the borrower in case he is unable to furnish receipts of the purchase. It will do away with the need for credit appraisal for loans of up to Rs 2.5 lakh where gold is a collateral, he said. The end-use monitoring of loans will be compulsory only if a lender is taking advantage of a loan by classifying it as among priority sector lending, the governor said. The RBI said the directions have to be complied with as expeditiously as possible but no later than April 1, 2026. Loans sanctioned prior to the date of adoption of the directions by the RBI regulated entities will continue to be governed by the extant guidelines applicable. PTI NKD CS TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.


The Print
42 minutes ago
- The Print
PNB cuts lending rate in line with RBI policy
'Great News for Our Valued Customers! Punjab National Bank Makes Your EMIs More Affordable! Following the repo rate cut (6.00% – 5.50%), Punjab National Bank has reduced its RLLR by 50 bps, effective from June 9, 2025,' PNB said in a post on X. Other banks are also expected to make similar announcements soon. New Delhi, Jun 6 (PTI) Hours after RBI's jumbo rate cut, state-owned Punjab National Bank (PNB) on Friday announced up to 50 basis points reduction in lending rate, a move which will help existing and new borrowers. With the reduction in the benchmark repo-linked benchmark lending rates (RBLR), the home loan of the bank will start from 7.45 per cent while vehicle loans from 7.8 per cent per annum. Earlier in the day, the Reserve Bank of India (RBI) cut interest rates by a larger-than-expected 50 basis points, and unexpectedly reduced the cash reserve ratio for banks to make available more money to lend in a bid to boost the economy. The RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra and consisting of three external members, voted five to one to lower the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. It also cut the cash reserve ratio by 100 basis points to 3 per cent, adding Rs 2.5 lakh crore to already surplus liquidity in the banking system. With the latest reduction, the RBI has now cut interest rates by a total of 100 basis points in 2025, starting with a quarter-point reduction in February — the first cut since May 2020 — and another similar-sized cut in April. The central bank, at the same time, changed its monetary policy stance from 'accommodative' to 'neutral', meaning rates could increase or decrease in future depending on incoming data, with Malhotra stating that it may have limited space for further easing. PTI DP TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.