Pune’s PMPML has no room for loose change worth Rs53 lakh
In a major challenge facing the Pune mahanagar parivahan mahamandal limited (PMPML), the public service utility is saddled with nearly Rs53 lakh in coins which has been kept in 13 PMPML depots and is pending acceptance by the Central Bank of India for depositing into its account.
Since October 3, the Central Bank of India, which holds the account of PMPML has refused to accept coin deposits from the PMPML citing lack of space.
In the PMPML’s depot at Shivaji Nagar there are two almirahs full of coins of Rs1, Rs2, Rs5 and Rs10 worth Rs5.25 lakh. Both the almirahs had a very little space to accommodate more coins, one out of which was rather in a leaning position owing to the weight of the coins.
According to PMPML officials, consistent increase in the number of coins will soon lead to a shortage of space for keeping it in the respective depots.
Considering the urgency, PMPML chairperson Nayana Gunde has written to the Reserve Bank of India requesting to intervene in the matter.
Gunde, said, “Ever since the Central Bank of India stopped accepting coins from us, we were left with no option but to keep it stashed in our depots. However, the numbers of coins are constantly increasing and would soon lead to a space shortage. Consequently, we wrote to RBI to intervene in the matter with a hope that it finds some solution to the problem.”
We have received a positive response from the RBI as in the previous week they had assured us to find some solution to the problem in next 15 days, said Gunde.
“We carry around 12 lakh passenger’s every day. The ticket cost is collected in both currency notes and coins. We collect coins worth anywhere between Rs1.5 lakh and Rs2 lakh every single day,” said, Subhash Gaikwad, PMPML spokesperson.
PMPML has a fleet strength of about 2,000 buses and a daily fare collection of about Rs1.40 crore.