The Bangalore Metro Rail Corporation Limited (BMRCL) is all set for a significant fare hike, citing increasing operational costs, sources said on Sunday.
According to BMRCL sources, the hike would be somewhere between 30 to 40 per cent.
This comes close on the heels of the State Transport Department increasing bus fare by 15 per cent across all categories.
“The BMRCL board has almost approved the hike and it’s quite likely that the revised fare would be effected this month itself,” a BMRCL officer told PTI.
According to him, the operational cost has escalated exponentially, which made the board take this decision.
“We are funded by various agencies and financial institutions and we have to clear those loans. Hence, hike is inevitable,” the officer said.
He also said the BMRCL is not funded by the State Government.