logo
Passengers slam MSRTC for fare disparity on e-buses with same amenities

Passengers slam MSRTC for fare disparity on e-buses with same amenities

The Maharashtra State Road Transport Corporation (MSRTC) has invited the ire of passengers by charging higher fares for electric buses with the same features and facilities by giving them different brand names and colours.
Experts and passengers have criticised the state-run corporation for the disparity in fares on the electric Shivneri and Shivai buses.
The MSRTC, the country's largest state-run transport undertaking, operates a fleet of nearly 15,000 buses, ranging from non-AC services to premium air-conditioned electric coaches.
In January this year, the Maharashtra State Transport Authority (STA) approved a 14.95 per cent hike in the MSRTC bus fares.
The corporation charges Rs 21.25 per 6 km on blue 'E-Shivneri' buses and Rs 15.15 for the white-green 'E-Shivai', both built on the Olectra CX2 platform that serves various intercity routes in Maharashtra since inducted in its fleet on a gross cost contract (GCC) model.
According to MSRTC sources, the E-Shivneri fleet primarily operates on the Mumbai-Pune route, and the E-Shivai buses ply on the Thane-Alibag, Beed-Pune, and Nashik-Chhatrapati Sambhajinagar routes.
Both are 12-metre-long air-conditioned electric buses with similar features, such as push-back seats, charging points, and reading lamps.
The corporation also operates some Greencell-make E-Shivai intercity buses from Pune, Aurangabad, Kolhapur, Nashik and Solapur. In terms of safety and comfort features, these buses are not different from Olectra CX2 ones, sources said.
Passengers have, however, slammed the corporation for charging different fares for buses of the same model without any extra services, saying the move lacked logic and transparency.
"Changing the colour of a bus's exterior and seat covers does not make it a new brand. There needs to be a clear distinction in terms of facilities, ride quality, or service levels to justify different fares," bus enthusiast Rohit Dhende said.
Bus enthusiasts and passengers pointed out that disparity in fares isn't limited to the air-conditioned electric bus services alone, and the case is the same with the MSRTC's ordinary and semi-luxury buses.
Aditya Rane, a passenger, said over the past decade, the state-owned corporation has significantly upgraded its ordinary buses. As a result, there is no difference between these and semi-luxury buses, which charge 25 per cent more fares.
He said ordinary buses now have features such as charging ports, push-back seats, and 2x2 seating, which were once exclusive to semi-luxury buses.
"So why does the MSRTC still charge 25 per cent extra? Is the higher fare just for the colour or the label?" Rane questioned, adding that the corporation should either restore the quality of semi-luxury buses or charge ordinary bus fares.
A V Shenoy, a transport expert, said the MSRTC has 13 different types of services, and fare slabs are unnecessarily complicated.
Ideally, it should have a simplified fare chart, with four categories based on whether a bus is AC or non-AC and premium or ordinary, he said.
"This will simplify ticketing for the corporation and passengers. The slabs should be in multiples of Rs 5, which will reduce the problem of keeping and counting small change," Shenoy said.
Transport experts and passengers argue that the State Transport Authority (STA) should have considered these factors before approving the fare hike for MSRTC buses.
When contacted, Bharat Kalaskar, additional transport commissioner, who is also secretary of the STA, said that the transport authority approves fare hikes as per the type of service and does not take the brand into consideration.
"Since you pointed this out, I will check and revert," Kalaskar said.
Talking to PTI, Maharashtra Transport Minister Pratap Sarnaik, also chairman of the MSRTC, said he would not allow any injustice to passengers if there was so much difference in fares of two classes of buses with the same amenities.
"Let me check the technical aspects. If there are more facilities (in buses), I may not be able to do anything, but we will not allow passengers to be charged more," he said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Yes Bank chief Prashant Kumar gets 6-month extension
Yes Bank chief Prashant Kumar gets 6-month extension

Time of India

time40 minutes ago

  • Time of India

Yes Bank chief Prashant Kumar gets 6-month extension

Private lender Yes Bank on Friday said that the Reserve Bank of India (RBI) has given an extension to CEO Prashant Kumar until his successor is appointed. The lender in a letter to stock exchanges said that the regulator had approved the extension for an additional six months starting from October 6, 2025. The extension will remain in effect until a new Managing Director and CEO is appointed and assumes charge, whichever is earlier, the bank said. The decision ensures continuity in the bank's leadership as it undergoes the process of identifying and appointing a suitable successor. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bạn sẽ không tin được giá cho bộ lưu điện ups 3kva chất lượng tại Việt Nam Trạm điện di động | Quảng cáo tìm kiếm Tìm Ngay Undo Kumar has been at the helm of Yes Bank since March 2020, a crucial period of its transformation and stabilisation, following significant financial and operational restructuring. Under Kumar, the lender has grown its total deposits 2.7 times in the last 5 years to Rs 2.85 lakh crore at the end of March 2025. Its retail advances have also grown 2.5 times since March 2020 to Rs 1.02 lakh crore at the end of March 2025. It's significantly improved its asset quality with gross non-performing ratio at 1.6% at the end of March 2025 versus 16.8% in March 2020. Live Events

Reduce time lag between financial results and annual reports: Sebi to CFOs
Reduce time lag between financial results and annual reports: Sebi to CFOs

Time of India

time40 minutes ago

  • Time of India

Reduce time lag between financial results and annual reports: Sebi to CFOs

Markets regulator Sebi on Friday urged Chief Financial Officers (CFOs) to reduce the time lag between the announcement of financial results and the publication of full annual reports, which is aimed at enhancing investors' confidence. Additionally, CFOs have been encouraged to deepen their engagement with audit committees and auditors, ensuring more collaborative and accountable financial disclosures, Sebi Whole Time Member Ananth Narayan said at an event here. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo Apart from highlighting the vital role CFOs play in upholding public trust, Narayan spoke about recent trends in capital formation, the opportunities and risks ahead, and the importance of co-creating effective regulations to foster sustained capital growth . "Currently, the gap between annual results and full annual reports ranges between 70-140 days. The full report with notes to accounts, internal controls report, audit key matters, and CARO (Companies Auditor's Report Order) disclosures is vastly more informative. Shortening this gap would significantly enhance transparency for investors," he added. At the ETCFO NextGen 2025 event on Friday, he stressed the need for CFOs to facilitate audit committees and auditors in shaping the audit plan for the year and suggested that auditors should participate in audit committee meetings beyond just discussing their specific items. Live Events This, he further said, would help boost trust and open more channels of communication among stakeholders. According to Narayan, the role of the CFO has evolved dramatically from being a record-keeper to becoming a forward-looking value architect. "When you (CFO) sign off on financial statements , it's not a routine formality. It's a solemn promise that what's presented is a true and fair view of the enterprise's financial health. That promise is the bedrock of capital markets. If that trust is broken, the damage can be immense," he added. He stressed that CFOs must go beyond mere compliance with accounting standards and embrace their underlying principles, not just the letter, but the spirit of the law. Narayan pointed out the rapid growth of India's securities market ecosystem, which has expanded from 4.2 crore unique investors in March 2020 to 13 crore at present. Mutual funds alone account for 6 crore unique investors, nearly triple the number from six years ago. In FY 2024-25, mutual funds mobilised a record Rs 6 lakh crore in equity-oriented risk-seeking funds. Also, FPIs held Rs 71 lakh crore in equity assets in India as of May 2025. At the same time, he emphasised the importance of safeguarding investor trust. He cautioned against Type I errors, such as governance failures, tech breakdowns, fraud, and manipulation that can severely damage this trust. Equally, he warned of Type II errors, where excessive regulation might stifle innovation and growth. As AI, automation, and energy-related technological shifts accelerate, nurturing business creation becomes more vital than ever. Unfortunately, Narayan noted, there have been breaches of trust resulting in Type I errors. These include instances of funds being siphoned off from listed entities, sharp accounting practices around asset and investment valuations that mislead the public, and insider trading involving undisclosed information being exploited for personal gain at the expense of retail investors. He also cautioned against the pitfalls of over-regulation, which could lead to Type II errors and hamper genuine capital formation. Narayan called on CFOs and auditors to act as active partners in shaping fair and balanced rules. He pointed out that Sebi's consultative processes, including advisory committees, public consultations, and regulatory working groups, are designed to include expert input, and suggested it might be time for CFOs to formally organise their voices for representation in these forums. Raising concerns about current valuation practices, Narayan said there is a risk or at least a perception of "valuation shopping", where entities seek out the most favourable valuations. "Just as Credit Rating Agencies (CRAs) now disclose rating histories and are held to standards, it may be time for valuers to disclose assumptions, sensitivity ranges, and track records, and be held accountable for egregious deviations," he added.

Reduce time lag between financial results and annual reports: Sebi to CFOs
Reduce time lag between financial results and annual reports: Sebi to CFOs

Economic Times

timean hour ago

  • Economic Times

Reduce time lag between financial results and annual reports: Sebi to CFOs

Markets regulator Sebi on Friday urged Chief Financial Officers (CFOs) to reduce the time lag between the announcement of financial results and the publication of full annual reports, which is aimed at enhancing investors' confidence. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Markets regulator Sebi on Friday urged Chief Financial Officers (CFOs) to reduce the time lag between the announcement of financial results and the publication of full annual reports, which is aimed at enhancing investors' CFOs have been encouraged to deepen their engagement with audit committees and auditors, ensuring more collaborative and accountable financial disclosures, Sebi Whole Time Member Ananth Narayan said at an event from highlighting the vital role CFOs play in upholding public trust, Narayan spoke about recent trends in capital formation, the opportunities and risks ahead, and the importance of co-creating effective regulations to foster sustained capital growth "Currently, the gap between annual results and full annual reports ranges between 70-140 days. The full report with notes to accounts, internal controls report, audit key matters, and CARO (Companies Auditor's Report Order) disclosures is vastly more informative. Shortening this gap would significantly enhance transparency for investors," he the ETCFO NextGen 2025 event on Friday, he stressed the need for CFOs to facilitate audit committees and auditors in shaping the audit plan for the year and suggested that auditors should participate in audit committee meetings beyond just discussing their specific he further said, would help boost trust and open more channels of communication among to Narayan, the role of the CFO has evolved dramatically from being a record-keeper to becoming a forward-looking value architect."When you (CFO) sign off on financial statements , it's not a routine formality. It's a solemn promise that what's presented is a true and fair view of the enterprise's financial health. That promise is the bedrock of capital markets. If that trust is broken, the damage can be immense," he stressed that CFOs must go beyond mere compliance with accounting standards and embrace their underlying principles, not just the letter, but the spirit of the pointed out the rapid growth of India's securities market ecosystem, which has expanded from 4.2 crore unique investors in March 2020 to 13 crore at present. Mutual funds alone account for 6 crore unique investors, nearly triple the number from six years ago. In FY 2024-25, mutual funds mobilised a record Rs 6 lakh crore in equity-oriented risk-seeking FPIs held Rs 71 lakh crore in equity assets in India as of May the same time, he emphasised the importance of safeguarding investor trust. He cautioned against Type I errors, such as governance failures, tech breakdowns, fraud, and manipulation that can severely damage this trust. Equally, he warned of Type II errors, where excessive regulation might stifle innovation and growth. As AI, automation, and energy-related technological shifts accelerate, nurturing business creation becomes more vital than Narayan noted, there have been breaches of trust resulting in Type I errors. These include instances of funds being siphoned off from listed entities, sharp accounting practices around asset and investment valuations that mislead the public, and insider trading involving undisclosed information being exploited for personal gain at the expense of retail also cautioned against the pitfalls of over-regulation, which could lead to Type II errors and hamper genuine capital called on CFOs and auditors to act as active partners in shaping fair and balanced rules. He pointed out that Sebi's consultative processes, including advisory committees, public consultations, and regulatory working groups, are designed to include expert input, and suggested it might be time for CFOs to formally organise their voices for representation in these concerns about current valuation practices, Narayan said there is a risk or at least a perception of "valuation shopping", where entities seek out the most favourable valuations."Just as Credit Rating Agencies (CRAs) now disclose rating histories and are held to standards, it may be time for valuers to disclose assumptions, sensitivity ranges, and track records, and be held accountable for egregious deviations," he added.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store