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Fund flow statement at BMTC
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Posted By: vijay kumar.m Member Level: Bronze Points/Cash: 10
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INTRODUCTION
BANGALORE
Bangalore “The Garden City”, “The Silicon Valley”, “The Cosmopolitan City”, “The Pub City”, “The Place of Heroes”, “The Town of Boiled Beans”, These are all the nicknames referred to the impressive city of Bangalore, beautifully constructed buildings, magical temples and meticulously decorated gardens. Bangalore is a fast, developing modern metropolis. A combination of high-tech growth and relaxing natural scenery, Bangalore is truly a marvel of present India.
Bangalore is located 1000 meters above the sea level and is one of the most happening places in India. Bangalore, which literally means the town of baked beans, was founded by Kempe Gowda, a chieftain of Vijayanagar Empire around 16th century. It is believed that Kempe Gowda who built the city Bangalore in 1537AD used a more anglicized version of the name and called it as Bangalore.
Bangalore has been accorded the status of ‘Silicon Valley of India’, a euphemism for the vibrant Information Technology industry located here. India’s competitive positioning in the software industry owes a lot to Bangalore initiating and sustaining the entrepreneurial cultural in Information Technology and more specifically software development. Apart from IT, Bangalore is also emerging as one of the primary centers for biotechnology in India.
Bangalore is situated in the middle of the South-Deccan plateau in peninsular India and in the south-eastern part of Karnataka State. The city is spread between four regional districts and is easily accessible by air, road and rail. Its airport connects it to the major cities in the other continents and facilitates its economic and industrial present. Bangalore enjoys a relatively mild climate
throughout the whole year, unlike most areas in India where summers are extremely hot and unpleasant. The warmest months are from February to May with the highest temperatures of 38 degrees Celsius. The coldest months are December and January while the monsoon rains occur in the autumn from September to November. Even though the weather from June to September is moderate. Bangalore with salubrious climate, natural beauty, man made marvels of architecture and technology with software flood is a picture of striking contrasts. Bangalore is renowned not only for its beauty and technological advancements but also for its easy access to the marvels of the lands around it. This city that, is the capital of Karnataka is full of trees, which line up the parks and the streets, with colours of green, orange, red and yellow to make it wonderful sight.
Bangalore is the capital of the Indian state of Karnataka, which has the fifth largest metropolitan area in India and is one of the fastest growing cities in the world. With an estimated metropolitan population of 5,281,927 in the year 2007, Bangalore is the third most populous city in India and the 27th most populous city in the world. After India gained independence in 1947, Bangalore evolved into a manufacturing hub for public sector heavy industries — prominently aerospace and Defence industries. The establishment and success of high technology firms in Bangalore after the liberalization of India's economy has led to the growth of India's information technology (IT) industry. Bangalore is referred to as the Silicon Valley of India and accounts for 35% of India's software exports. Home to prestigious colleges and research institutions, the city has the second-highest literacy rate in the nation.
Some of the major industries in Bangalore are: Aircraft, earthmoving, watches, garments, silk, machine tools, handicrafts, computer software, computer hardware, and information technology, steel, and coffee.
Bangalore is the home of international standard R&D centers, Educational Institutes like IIMB, IISC& National law school and professional colleges sending out a large pool of human resource which is put to optimum use. There are number of well equipped industrial and research centers like Central Power Research Institute, National Aeronautical Laboratory, Indian Institute of Science along with industrial centers like Electronic City & International Tech Park making Bangalore Leader in Information Technology.
The number of Bangaloreans exceeds six million people, making Bangalore the third most populous city in India. The majority of the inhabitants are Hindu but there are several minority groups such as Muslims and Christians. The city hosts citizens from Tamil Nadu, Kerala, Maharashtra and Andhra Pradesh. The official language in the whole state is Kannada but other languages are also widely used like Hindi, Tamil, Telugu and Malayalam. Apart from that, the city's workforce speaks mainly English.
Bangalore has the second highest literacy rate (83%) for an Indian metropolis, after Mumbai. The city's workforce structure is predominantly non-agrarian, with only 6% of Bangalore's workforce being engaged in agriculture-related activities.
The metropolis of Bangalore is divided into two main districts:
Bangalore Urban and Bangalore Rural:
• Bangalore Urban is the central part of the city. This is the region where all the metropolitan landmarks, parks and entertainments are situated as well as all the government and administrative buildings. The city's cultural and commercial life is also concentrated here, including the academic and nightlife.
• Bangalore Rural district enjoys an enchanting landscape, dotted with a series of hills and natural waterfalls. There are also several temples and small villages there that contribute to its contrary to the rural district charm.
The Bruhat Bengaluru Mahanagara Palike (BBMP, Greater Bangalore Municipal Corporation) is in charge of the civic administration of the city. It was formed in 2007 by merging 100 wards of the erstwhile Bangalore Mahanagara Palike, with the neighboring 7 City Municipal Councils (CMC), one Town Municipal Council and 110 villages around Bangalore. The geographical boundaries of the city have also been expanding very fast with city area increasing from 386 sq. km in 1981 to 446 sq. km in 1991 and to 531 sq. km in the year 2001.Bangalore city itself has a road network of 6000KM.
Bangalore and Traffic
It is a known fact that in Bangalore, to go to college or office or shopping by our own vehicle is extremely delayed due to traffic jam. Well, a few years ago, it was as simple as kick-starting your two-wheeler to ride to your destination within a few minutes. The Bangalore of today is a picture in contrast. Personal vehicles may be less of a status symbol and more of a convenient mode of transport, but ironically, their large numbers on the streets has created a demand for efficient public transport in a City bursting at its seams.
With the phenomenal increase in the migration rate in Bangalore and the increase in the income level and also as per statistics, 600 new vehicles per day in Bangalore has led to the galloping rate of two wheelers in the city. The number of two wheelers in the City in 1993 was just 5.2 lakhs; now it is about 20 lakhs, courtesy, and zero interest on auto loans and improved automobile technology. This had led to the high traffic congestion and environmental pollution in the city. This also led to the more of accidents in the city. In 2006, a total of over 7500 accident cases were registered in the city and out of which 880 were fatal. In the year 2007 (upto.31/12/2007) the numbers of accidents increased to 8426 and out of which 957 were fatal.
At present, traffic is on everyone’s mind. The driving distances and time have increased and become more stretched, complain Bangaloreans. The bad state of roads also contributes to motorists’ travails. In Bangalore, People always disobey and break the traffic rules. Hand signal is used instead of indicators, turns are taken where they are not allowed and overtaking happens in crowded areas. Drivers themselves seem to be in a hurry and angry at slow moving vehicles. They drive fast, zigzag and always honk, even when they know there is no space to move. It is better if drivers obey traffic rules to help keep up a smooth flow of traffic.
The city’s mass transport system is presently operated by the state owned Bangalore Metropolitan Transport Corporation Ltd. (BMTC), which is exerting to do its best, but still unable to meet the rapidly rising commuter community’s demand for a rapid, more efficient and user friendly mode of public transport system. This has led to an explosive growth of private vehicle population comprising of two wheelers, which form the bulk, three wheelers, four wheelers, and other miscellaneous motor vehicles. The size of vehicle fleet operating in the urban area is around 1.9 million in the year 2003,which is now 2.8 million and this increased vehicle population has naturally had a spiraling effect on many aspects of city’s life, namely: -
(i) Severe air pollution levels
(ii) High congestion problems
(iii) Growing number of road accidents often resulting in human fatalities and injuries
(iv) More non-productive man-hours during transit and waiting points etc.
Vehicle use and travel patterns in Bangalore city
In terms of nature of vehicles use and patterns in the Bangalore city, besides a series of estimates conducted by Rail India Technical and Economic Services in 2001 show that:
• 78 percent house holds owned a motor vehicle, with vehicle ownership at 1.5 per house hold.
• Trips per person per day presently are 0.89 and expected to go up to 1.25 in 2011.
• The average trip length is 7.1 Km and average travel time is 30 minutes.
• Average car occupancy is 2.21, scooter occupancy is 1.41, and auto occupancy is 2.1.
• Average speed in the city presently is 13.33 Km per hour and is likely to go down to 10 Km per hour by 2011.
• In terms of modal split, 8.4 percent of all trips are undertaken by car, 38.1 percent by two wheelers, 40.9 percent by buses, 1.1 percent by bicycle and 11.5 percent on foot.
Need for mass transport
The need energy-efficiency and environment point of view, the use of mass transport is vastly superior when compared to using personalized mode of transport. Available literature reveals that to meet kilometer of passenger demand travel,
(i) A car consumes nearly five times more energy than a 52-seater bus with 82 percent load factor, while two wheelers consume about 2.6 times and the three wheelers about 3 times more the energy.
(ii) A car occupies over 38 times more road space in comparison to bus. The corresponding figures for two wheelers and three wheelers are 54 and 15 respectively.
(iii) The fuel cost of two wheelers is 6.8 times, three wheelers are 7 times, and car is 11.8 times, when compared to a bus. While the total cost of operation of two wheelers and three wheelers is over 3 times and car 9.5 times higher than a bus.
(iv) A 52-seater bus enjoys similar level of advantage over other vehicles when emissions of all types of are pollutants and green house gases are generated.
RESEARCH DESIGN
Research is an organized designed and carried out to provide information to solve a specific problem. In fact, research is an art of scientific investigation of a certain problem. “Research is the process of systematically obtaining accurate answers to significant and pertinent questions by the use of the scientific methods for gathering and interpreting information”.
Research design refers to the systematical method consisting of enunciating problems, collecting the facts or data, formulating hypothesis, analyzing the data and reaching certain conclusions. There are various types of research design and the most suitable design for this study is Diagnostic and analytical method.
There are various steps in research design namely:
1. Recognizing the problem to be solved
2. Collection of relevant information to study the situation
3. Design regarding the study period
4. Assimilating and analyzing the collected information
5. Formulation of hypothesis
6. Finally, forwarding certain recommendations and conclusions to the company.
Title of the Project
“AN ANALYSIS OF FLOW OF FUNDS OF WITH SPECIFIC REFERENCE TO BANGALORE METROPOLITAN TRANSPORT CORPORATION.”
Scope of the Study:
The study on analysis of Flow of funds of BMTC. It is confined to only Bangalore Metropolitan Transport Corporation and cannot be generalized to any other transport corporation. The study is only about the financial analysis and flow of funds of BMTC of Bangalore and is limited only to Bangalore and not to other regions.
Objectives of the study:
1. To know the changes in Working Capital during the last few years in the company and the reason for the changes in Working Capital.
2. To know the various sources from which the funds are raised and the application of those funds in the company.
3. To know the Financial and Working Capital position of the company.
4. To know the present operating efficiency and suggest suitable recommendations.
5. To give necessary suggestions that can be made by making a thorough study on the financing and flow of funds on BMTC.
Sources of Data:
Primary Source: The primary sources are those which provide data gathered for the first time by personal interviews, questionnaire etc. In this particular project, there is no primary data collected and used in the project.
Secondary Source: Secondary sources are those from which data are obtained in second hand, i.e., data collected from records, annual reports, etc. The secondary data is derived from the annual reports collected by the Finance Department in the company. This also includes the information accessed from the various website through Internet, magazines and textbooks.
Limitations
• Being an academic effort this project cannot be generalized for any other company.
• Time constraint as the project is academic purpose, the complete study of the company is not possible
• The study is only limited to Bangalore transport corporation and not applicable to any other transport corporation.
COMPANY PROFILE
Mission
To provide Efficient, Economic, Safe, Reliable and Punctual services to the commuters of the City and Sub-urban areas of Bangalore.
History
BMTC has its origin in a private company called Bangalore Transport Company Limited founded in 1940 catering to the entire city with just 98 buses. Then the Government of Mysore took over the city transport from the private company by an act and ran buses up to 10- mile radius in the city in 1956 calling it Bangalore Transport Service [BTS]. In 1961, Mysore State Road Transport Corporation- MSRTC - ('Mysore' was replaced by 'Karnataka' later because of the renaming of the State-KSRTC) is formed by a special act, with BTS as one of its divisions. BTS got the recognition as a unit under a director with two divisions of functions as North and South in 1993.
Bifurcation
The BTS buses were originally red in colour, but BMTC’s now are blue in colour and the Pushpak buses are chocolate brown. Newer and better models have replaced all the buses. The public loved the new look buses, which were originally termed as Parisara Vaahini means eco-friendly vehicle, Janti Vaahana meaning duel bus. The government also introduced Grameena Saarige for the rural areas close to the city, these were mini buses. The famous Pushpak buses are the faster buses with limited stops and with a higher fare and more luxurious seating. Today, they are the only profit making urban sector public corporation in India.
In 1981, the Government of Karnataka had started thinking on the lines of bifurcating KSRTC. This was to ensure better management and operations that would improve the quality of service. On bifurcation, each corporation would be equipped with powers to function as an independent entity making its own decisions according to its specific needs.
In 1997, the State government, in a bid to facilitate effective supervision and management, restructured it to form four corporations - the Bangalore Metropolitan Transport Corporation, the North West Karnataka Road Transport Corporation, the North East Karnataka Road Transport Corporation and the KSRTC. These corporations have shown much more efficiency and reliability than the parent body, even while the costs of operations have been lowered significantly
On 15th august 1997, Bangalore Metropolitan Transport Corporation (BMTC) is incorporated as a separate entity having been bifurcated from its parent body KSRTC. Now, it is fourth biggest public city Transport Corporation in India and the only profit making public sector urban transport corporation in the country.
BMTC provide the most affordable and dependable transport service to the people in and around Bangalore, the capital of Karnataka State, renowned as the Garden City and Silicon Valley of India. They are an undertaking of the Government of Karnataka, dedicated to the commoner's transport facility. Their motive is therefore service than profit. Yet, since their inception, they are able to make profits by making significant improvement in their work culture.
Their returns are used again in the operations as they always strive to improve further the quality of the service not only in providing comfort to the traveling public but also in other vital aspects: Containing pollution, easing traffic congestion, saving fuel, introducing all latest technologies in their operations to save precious time and money as it will ultimately benefit the people since it is a public undertaking.
The city was extending its boundaries rapidly with new residential localities coming up day in and day out. The population of the city was increasing rapidly. Consumer awareness was maturing fast, with expectation more on convenient and comfortable transport.
Bifurcation brought the desired results in short span. The government on its part, helped by allowing the corporations to revise the fares in order to meet the increasing costs of diesel and other inputs and by reducing the rate of the Motor Vehicle Tax from 17 per cent of the turnover to 7.7 per cent for the KSRTC and 5.5 per cent for the BMTC.
BMTC IN A NUT SHELL (as on 12th Jan 2008)
Number of Depots - 30 Depots
Deploy a fleet of 4723 buses
Make 66665 trips
Perform 10.48 Lakhs Service Kilometers
Carry 37.00 Lakhs Passengers
Earn around Rs.220.11 lakhs and
Pay Rs. 12.71 lakh to the Government towards Motor Vehicle tax
Average Utilisation per Vehicle is 229.2 km for the current year as against 193.9 km per day during 1996-1997
Rate of Breakdown per 10000 kms for the year 2006 is 0.12
Rate of Accident per lakh kms is 0.16
It is rare to find an Urban Transport Undertaking, which has no accumulated loss, has positive net worth, and has started making profits. BMTC stands first in terms of commuter’s satisfaction among seven competing stakeholders in the city of Bangalore. This Bangalore Metropolitan Transport Corporation has been a model to the entire Nation.
BMTC is the biggest Public City Transport Corporation in India. Just have a bird's eye view of its
Number of Depots: 30
* Depot 1:Shantinagar l
* Depot 2:Shantinagar ll
* Depot 3:Shivajinagar
* Depot 4:Jayanagar
* Depot 5:Vijayanagar
* Depot 6:Indiranagar
* Depot 7:Subhashnagar
* Depot 8:Yeshwanthapur
* Depot 9:Peenya
* Depot 10:Hennur Banaswadi
* Depot 11:Yelahanka
* Depot 12:Kengeri
* Depot 13:Banashankari 3rd Stage 3rd Phase
* Depot 14:R.T. Nagar
* Depot 15:Koramangala
* Depot 16:Deepanjalinagar
* Depot 17:Chandra Layout
* Depot 18:I T P L
* Depot 19:Electronic city
* Depot 20:Banashankari
* Depot 21:RajaRajeshwari Nagar
* Depot 22:Peenya
* Depot 23:Kalyana Nagara
* Depot 24:K R Puram
* Depot 25:H S R Layout
* Depot 26:Yeshwanthpur II
* Depot 27:Jigani
* Depot 28:Hebbala
* Depot 29:K R Puram II
* Depot 30:Yelahanka II
These Depots serve not only as maintenance centres but also as nearest points to ply buses on the routes of their respective locations.
Major Bus Stations in 3 prime locations:
* Subhashnagar (Kempe Gowda Bus Station popularly known as 'Majestic Bus Stand)
* Shanthinagar (renovated and built with amenities, subways, revenue yielding office spaces, parking lots, etc.)
* City Market- Minor Bus Stations:
DEPOTS
BMTC has 30 depots and one central workshop. The administrative set up of BMTC is of two tier system with depots and the corporate office, enables Depot Managers to seek necessary guidance and timely support from the corporate office issues pertaining to day to day functioning of the Depots. Further, the corporate office is able to monitor, oversee and exercise direct control over the functioning of Depots. From the 30 depots, the corporation operates an area of 9.33 lakhs Kms and carries more than 37 lakhs carried per day.
E-CART
The corporation operates special services on occasions like fairs, jatras, religious, cultural and social celebrations in Bangalore. In order to mobilize revenue, BMTC is also providing exclusive pickup and drop to factories, schools and colleges on contract basis. BMTC has a wide range of buses on hire for all occasion like wedding, excursion, and pilgrimage or whenever the general public needs dedicated buses for their travel, BMTC is at your doorstep to serve, offering causal contract buses at very competitive prices. In case of exigencies like heavy vehicle, Lorries on general strike/bandh BMTC gives good service to the public especially to IT sectors.
ISO Certification
The Corporation has initiated action for implementation of ISO – 9001 and ISO 14000 certification by appointing Environmental Management and Policy Institute (EMPRI), Bangalore for implementation, with a view to confirm to international Standards in Quality Management system (QMS) and Environmental Management System (EMS).
QUALITY POLICY
BMTC will strive to provide commuter friendly services and is committed to ensure Economically sustainable, Efficient, Clean, Timely, Courteous, Safe & commuter education with the involvement of suppliers and Eco-friendly purchasing policy is also its aim.
The following Quality Objective shall achieve the above policy:
1. Adopting best HR practices.
2. Practicing credible commuter Relationship Management.
3. Achieving high Operational Efficiency.
4. Fostering best Management Principles.
Issue of Monthly Pass
BMTC serves the citizens of Bangalore with quality bus services. They provide the citizens with exhaustive range of monthly passes and student passes. With a view to provide the citizens of Bangalore an array of options to purchase the bus passes of BMTC, BMTC has integrated their “Issue of Monthly Pass” service for BMTC with Bangalore One, so that the citizens can utilize the convenience of purchase of passes at any of the several Bangalore One centers spread across Bangalore city. The mode of payment for buying bus passes; citizen has cash and credit card payment facility. And the rates of Bus Passes as per their type are: -.
Senior citizens Concessional Monthly Commuter passes
Passes
1. Monthly Passes
Category Type Revised Rates (in Rs.)
City Service (Black Board) General Rs. 390 /-
Senior Citizen's Rs. 350 /-
Sub urban Service (Red Board) General Rs. 535 /-
Senior Citizen's Rs. 485 /-
Pushpak General Rs. 570 /-
Senior Citizen's Rs. 515 /-
2. Daily Pass - Rs. 30/-
3. Weekly Pass- Rs. 180/-
4. Police concessional Pass- Rs. 175/- (per month)
5. Police Duty Summon Pass- Rs. 175/- (per month)
6. Fire Force Pass- Rs. 200/- (per month)
7. Journalist Pass- Rs. 120/- (per annum)
8. Blind Pass- FREE
Student Concessional Pass Rates :
Sl. No. Category Month Present Rate Processing charge Insurance Fee IT fee Rolling Stock Total
1 1 to 7 th Std 10 month Rs. 60 Rs. 50 Rs. 10 Rs. 10 Rs. 1 Rs. 131
2 High School (8 to 10th Std) 10 month Rs. 450 Rs. 50 Rs. 10 Rs. 10 Rs. 1 Rs. 521
3 College Students 10 month Rs. 850 Rs. 50 Rs. 10 Rs. 10 Rs. 1 Rs. 921
4 Tech & Medical students 10 month Rs. 1200 Rs. 50 Rs. 10 Rs. 10 Rs. 1 Rs. 1271
5 Professional students 10 month Rs. 850 Rs. 50 Rs. 10 Rs. 10 Rs. 1 Rs. 921
6 Evening College 10 month Rs. 1400 Rs. 50 Rs. 10 Rs. 10 Rs. 1 Rs. 1471
BMTC had introduced smart card based Student Concessional Passes from the year 2007-08 as a mark of observing Suvarna Karnataka Jayanti. This is also for Primary, Secondary and High school students and also for PUC & College students.
BMTC is the most cost effective mode of transport. Their buses occupy least space on the roads when the number of road users is taken into account. One bus easily carries 60 persons on an average unlike two wheelers and four wheelers. This helps reducing traffic congestion and increases road safety and road life.
BMTC saves the most precious fuel and thereby saves the most valuable foreign exchange. Use of more number of two wheelers and four wheelers on the road means more consumption of fuel.
Using BMTC more for travel means saving fuel and foreign exchange. It also reduces air pollution, as they are less in number compared to the number of two wheelers and four wheelers. Using BMTC more for travel means reducing air pollution considerably.
FACILITIES PROVIDED BY BMTC
• Bus route information and query on website;
• Renewals of bus pass facilities through the internet;
• Payment of salary to employees through Electronic Clearance System (ECS);
• Initiation of vehicle tracking and monitoring system using GPS-GIS;
• Establishment of call centre facilities for commuters and customer satisfaction survey;
• Electronic display system in buses on pilot basis and introduction of LED destination boards.
• Rainbow benefit scheme for monthly pass commuters introduced
• Introduction of night services
• Casual Contract services and E-Kart system
• Rainbow benefit scheme for monthly pass commuters introduced
• Introduction of night services
• Computerization of 23 depots with software modules to suit operational system
• Introduction of Online Vehicle Tracking and Monitoring using GPS on GIS
• Computerized pass issue system at Bus stations
• Purchase of monthly Bus Passes through Internet
• Introduction of electronic ticketing machines
• "Yelli Iddira?" is a service provided to BMTC commuters to track buses (presently only VOLVO) using on-line GPS data provided by BMTC.
• Buses can be booked in 15 minutes & immediate refund.
• Buses can be booked from any of the BMTC bus depots and also at Kempe Gowda, K.R. Market, Shivajinagar, Jayanagar bus stations and also at KSRTC booking centers.
• Discounts for Schools and Colleges
• Electronic ticketing machines has been introduced in one of the depot and the results were encouraging
BMTC has introduced more buses to ease passenger discomfort. It has introduced 'Ladies special' for women& children, 'Hospital special' for sick people, 'Shopping Mall special' for shopping citizens and 'Pass special' buses exclusively for BMTC bus pass holders. BMTC has started issuing multi purpose smart card for student pass. Daily pass is being issued through Automatic Vending Machine by which they can travel unlimited.
It has also introduced many measures to improve efficiency and women emancipation by making it mandatory that 33% of BMTC staff need to be women.
FUTURE PLANS OF BMTC
The steps taken in the implementation of the Five Effective Transport Management Initiatives in Bangalore Metropolitan Transport Corporation are:
1. Infrastructure for Effective Transport Management Initiatives:
• Rationalisation of existing schedules to maximize vehicle utility and revenue returns.
• Night Service: Number of schedules increased to 100 with additional of 40 new schedules.
Fresh Proposals:
A. Core Inner Ring Road Services: Concept being implemented by BMP it envisages improved connectivity between important commercial, administrative, educational and other land marks within core CBD’s (as detailed below) such as Yeshawanthapura, Rajajinagar, Magadi Road, Trinity Circle, Coles Park, J.C.Nagar, Indian Institute of Science. The proposed corridor, which is to come up on the existing roads through induction of additional infrastructure such grade separators, fly over etc. that would ensure unimpeded traffic. The corridor is expected to be 28.0 kms long. BMTC has prepared a plan to introduce a core inner ring road service for which enroute bus bays, bus stops have been identified and other related work such as estimates regarding deployment of buses, frequency to be offered etc., has been completed.
B. Augmentation of Metro/Grid Services: At present BMTC is operating 89 schedules on 25 grid routes. To further improve the frequency and connectivity a major augmentation is being planned through induction of 230 new buses.
C. Introduction of Branded Peak Hour Service: To improve frequency give better travel facility during morning and evening peak hours BMTC is planning to induct 320 additional buses, which will take the total peak hour service to 500, which will be converted into a branded service.
D. Hospital Special Service: BMTC with the aim of contributing its mite for people who commute to avail the Medical facilities is introducing “Hospital Special Service” which provides easy connectivity to important Hospital in Bangalore from the city center. It is hope that this service will convenience public who travel by train and long distance buses to reach Bangalore for availing Medicare, These service are being introduced on three routes, which provide connectivity to 22 important Hospitals from the Kempe Gowda bus station. The Hon’ble Minister for transport, government of Karnataka will be dedicating this service to the public on 16th August 2006.
E. Ladies Special Service: Fulfilling the promise of Hon’ble Chief Minister, BMTC is starting a new and an exclusive service dedicated to Lady Commuters. To start with 12 such Routes are being introduced. With this the uncertainty and the struggle for a seat for ladies and children will be thing of the past, Comfortable travel with enough room for Ladies and Children even during peak hours is ensured also specially safe and secure for unaccompanied children and Ladies also it permits travel on the basis of existing passes such as day, monthly, student passes without any additional cost. The Hon’ble Minister for Transport, Government of Karnataka will be dedicating this service to the public on the 16th of August 2006.
2. Public Relations for effective Transport Management initiative:
• In Office: Public grievances which are belongs to the operations of the Corporation are heard and attended in the Office of the Chief Traffic Manager (Operations) during all working hours. All the concerned Head of the Departments hear the other grievances. Apart from those received at bus stations, control room etc. To facilitate free flow of information regarding the existing facilities and new ones initiated for the benefit of commuters by BMTC, new avenues of information, which double up as channels of interaction between BMTC and its patrons, the publics are being made available. “Call Centre” is the latest in this direction.
• “BMTC CALL CENTER”: The call centre is functioning from 0800 hours to 2000 hours. This facility is being made available to the public for recording their grievances, suggestions and complaints pertaining to all aspects of BMTC, which has a bearing on the commuters. Two exclusive telephone lines with Nos. 12667 and 25550565 are put on the disposal of the public.
• Enquiry Counters, Public Address System: With the aim of providing information related to BMTC operations and other services offered for the benefit of the public enquiry counters staffed with qualified traffic personnel and equipped with latest information pertaining to BMTC routes such as destination details, arrival and departure timings, en-route places, information pertaining to important land marks in the city and other civic facilities such as hospitals, Police Stations etc have been established at all major bus stations. Also available for public are complaints and suggestion books. These information centers functions between 0600 to 2200 hours.
• Public Address System: To facilitate smooth operations and a means of quick dissemination of information Public Address System has been installed at the major bus stations.
• Interactive Voice Response System (IVRS): Interactive Voice Response System will enable the public to get information about operations through telephone.
• Citizens’ Charter: Citizen Charter containing the commitments of the corporations towards the commuters has been published by BMTC with the dual purpose of educating both its personnel and the general public regarding the corporation’s obligations to its patrons and the special commitments towards them. This Charter printed in bilingual posters is exhibited in all its buses as well as bus stations. The revised Citizen charter is under printing and the same will be released by the end of January-2006. Action has been taken to fix the Citizen Charter Boards in all the buses in passenger saloon i.e., behind driver partition and being ensured.
• Documentary film on BMTC: BMTC has been producing documentary films on subjects related to its day-to-day functioning, accidents – its repercussions and relief road safety etc as a medium for putting forth the BMTC’s point of view and for educating its staff. As off now nearly 20 documentary films on a variety of subjects have produced and screened for the benefit of its staff.
• Banners and Hoarding: BMTC displays banners and hoardings to spread information about the facilities offered by BMTC. This is done for the benefit of commuters. Information pertaining to traffic operations, introduction of new schemes, information regarding various passes issued by BMTC and also cautionary information in respect of use of facilities is provided. These hoardings and banners are exhibited at vantage locations in bus stations and other infrastructural sites.
• Transport Adalats: BMTC responds to and deputes officials to attend to transport adalats conducted by different RTO’s whenever intimated and subjects related to BMTC come up for discussion.
VISION PLAN 2005-2010 FOR BMTC:-
Ministry of Urban Development Government of India has formulated National Urban Renewal Mission (NURM) for the selected cities in the country and Bangalore is one among them. Under this mission, Urban Transport is considered as one of the activities for extending financial assistance for development
Corporation being the urban transport services provider in Bangalore city functioning under Government of Karnataka as an independent corporation has prime objective to provide Affordable, Economic, Efficient and Eco and Commuter friendly bus transport system to the citizens of Bangalore. In this Endeavor, Infrastructural development plan for 5 years under the title “VISION PLAN” 2005-2010”for Rs. 3000.00 Crores on various Infrastructure development, HRD and IT activities has been proposed
The details of the project proposed under the Vision Plan 2005-2010 for the improvement of Transport Infrastructure in Bangalore city has been discussed in detail by the concerned authorities. The details of the projects proposed are induction of 2407 new buses besides replacing 1325 aged buses taking the total fleet strength to 6234 by march 2010, commissioning of 27 new depots there by increasing the total depots to 51, commissioning of new bus stations, construction of commuters’ Amenity centers, construction of bus shelters, and construction of pass over bridges under urban transport infrastructure
Establishment of Employee training centers and employee development centers along with well-structured training programme to the personal of the occupation at all levels of the project covered under HRD
Vehicles monitoring through On-line GPS for all vehicles, introduction of online PIS and IVRS system for commuter information on the bus services, modernized automatic fare collection system viz., electronic ticketing system and various computerization activities including the surveillance system at depots and bus stations are the project proposed under Information Technology group.
The construction of Multi-modal Transit centre at Subhashnagar (KBS), which is covers as a part of the proposed KSRTC project is also covered under this proposal.
Under the NURM proposal of Government of India, the financing pattern for the projects defined as follows:
1. Grants from Government of India is 35%
2. Grants from government of Karnataka is 15%
3. Contribution by the implementing agency proposing the schemes (BMTC) is 50%
LABOUR
Dedicated workforce of 17609 at different levels working at different places. The Drivers (5829), conductors (6231), Driver cum conductors (2314) & other traffic personnel (398) are the line staff operating the buses. Infact, they are the human face of the Corporation directly interacting with the public every moment of their working hours. Maintenance staff (1812) attending the preventive maintenance of vehicles to keep fit the vehicles for uninterrupted operations. The administrative staff (1025) works at both depot level and corporate level helping smooth functioning of the administration.
Employee welfare
Peer Group initiative
• Simplification of medical rules for employees
• Sites for employees
• Medical Incapacitation Fund for distressed employees
• Insurance coverage for employees
• ISO 14001 initiatives through EMPRI
Employee benefit
a. All BMTC and KSRTC Class III and IV employees are issued free passes to report to the place of work and return to their residents as per Industrial Truce Settlement
b. A free pass without restriction of distance is issued to all BMTC employees and their families once a year for travel to any place in Buses operated by KSRTC, NWKRTC, and NEKRTC.
c. All Schools and College going children of BMTC employees are issued free passes to attend School and Colleges in city and suburban areas of Bangalore to travel between two specific points.
LABOUR WELFARE DEPARTMENT
A separate Labour Welfare Department is functioning in the Corporation particularly to look after the day-to-day grievances of employees, welfare activities, liaison with unions, as well as to maintain harmonious industrial relations to ensure high morale among the employees of the Corporation.
Paid Holidays:
All the employees of BMTC except the office staff working at corporate office are entitled for 5 festival holidays and 5 national holidays as per the National and Festival Holidays Act.
Gratuity:
Gratuity to the eligible employees is paid as per the provision of KSRTC employees gratuity regulations or in-accordance with the provision of payment of Gratuity Act 1972 whichever is beneficial to the employees i.e., equal to one month salary for each completed year of service.
Employee Provident Fund Scheme
The Corporation is covered under the exemption category of the provisions of employees Provident Fund Scheme. The fund is managed by a separate trust at KSRTC Corporate level consisting of representatives of management as well as employees and as on date no separate trust is formed exclusively for BMTC employees.
Co-operatives Societies
The employees of the Corporation have formed Consumer Co-operative Society and Co-operative Credit Society under the directorship of the representatives. The Consumer Co-operatives Society is supplying food grains and other household items both on cash as well as on credit basis. The employees are also availing facilities from KSRTC Credit Co-operatives Society and Housing Co-operatives Society.
Canteen
Two Co-operatives canteens each at Depot-1 as well as at Central Workshop are functioning for the benefit of the employees. The corporation pays an amount to the extent of 80% of the wages of the employees working in the Co-operatives canteens.
Medical Aid
Employees of the Corporation as well as their dependents is entitled to medical treatment facilities as per the KSRTC employees Regulations Act 1970. The employees avail the medical treatment at the local dispensary as well as Jayanagar Hospital of KSRTC.
Compensation under Workmen’s Compensation Act
Employees meeting with accidents while on duty and sustaining injuries are extended best possible medical treatment either in Government or private hospitals depending on the nature of the injury. The employees who meet with an accident while on duty, sustain injury will be given suitable compensation as per Workmen Compensation Act.
Festival Advance:
All the employees and officers of the Corporation are entitled to festival advance of Rs. 2000/- per annum recoverable in 10 monthly installments.
Leave Salary/Encashment: The employees and officers who avail leave for more than 7 days, are entitled for leave salary advance.
Death-cum-Retirement Benefit Fund:
All the employees of the corporation are enrolled as members of this fund contributing Rs.20/- per month. Out of which Rs.7/- is set apart towards risk coverage of colleague employees and the balance of Rs.13/- will be credited to the employees account. In the event of death of an employee while in service, the Corporation will immediately arrange for payment of Rs.2000/- towards the funeral expenses and the balance amount of Rs.25000/- along with contribution of the employees plus interest will be paid to the dependent on final settlement.
On retirement, employees are given a warm send off recognizing their valuable service. The monetary benefits due to the retired employees such as Gratuity, Provident Funds, Encashment of Leave (admissible), and other benefits are settled immediately so that the retired employees do not suffer for want of funds. Their wishes will be transferred to the employees in-service as an inspiration.
Educational Assistance Fund:
The Corporation is releasing monthly educational assistance to the employee’s children. Each employee of the Corporation will contribute Rs.5.00 and the Corporation will pay a matching contribution to this fund. The Educational Assistance is extended to only one member of the employee’s family.
Besides, the children of the employees also avail the benefit of training at Industrial Training Institute functioning at Bangalore.
Awards to the meritorious children of employees:
In order to encourage the employees to improve the educational standards and hidden talents of their children, the Corporation has introduced an award scheme as a part of Labour Welfare measure. Students who secure more than 80% marks in 7th Std., S.S.L.C., and P.U.C., examination and more than 60% marks in degree examinations are eligible for the award.
Awards to Accident free Drivers:
The Chief Minister’s Gold Medal Scheme and the Department’s Silver Medal Scheme to the accident free drivers are prevailing in the Corporation. Under this scheme, the Gold and Silver Medal awardees are entitled for a cash award of Rs.5000/- and Rs.2000/- respectively besides a monthly allowance of Rs. 100/- and Rs. 50/- every month.
Family Counseling:
As a welfare measure, family counseling is conducted on Thursday and Fridays for the employees who are in deed of counseling.
Sports & Cultural activities:
Sports and cultural activities were conducted during the year to identify creativity and talents of the employees and their children.
Labour Welfare Scheme introduced at BMTC
• Crew Rest Rooms are provide
• Wage arrears, DA installments and difference of HRA, CCA arrears paid regularly,
• Periodical grievance meeting conducted at depots,
• Deaddiction, medical camps, WAPPA programs organized,
• Transparency in recruitment and disciplinary cases.
• Cash award for meritorious students BMTC employee's children
• Rs.5000/- Educational advance of children of BMTC employees.
• Initial down payment for procuring a site
• Medical advance for serious dieses like heart problem, cancer & others.
• For voluntary retirement scheme for medically incapacitated employees.
• Group accident insurance scheme
• Loan share for procuring vehicles and household articles.
• Free counseling on legal matters.
• Advance towards marriage of employees and their children.
• Free Coaching classes for employees children studying in SSLC & PUC
• Special awards & Gold metals for meritorious students of BMTC employees
• Providing telephone booth facility to dependents of deceased employees and also medically incapacitated employees
• ECS Facility for disbursement of salary and other financial benefits.
• Exgratia towards funeral expenses of employees, by death on duty.
• Insurance scheme upto 3 Lakhs for death while on duty.
• Festival advance of Rs. 2000/- paid once in a year.
• Maximum of Rs. 50,000/- loan is given for employee children for higher education.
• Silver and Gold Medal for accident free drivers.
• Deaddiction treatment given to the employees.
• Ladies committee is formed for ladies grievance only.
Security and Vigilance
The Security and Vigilance Department is functioning as “Eyes and Ears” of the Corporation. Among other things, the main duties of this department are to provide physical security to the property and also to ensure proper departmental action against theft, fire, pilferage, misappropriation etc., by the employees and outsiders and also to collect intelligence about the Labour activities etc.
The department takes cognizance of petitions received and information gathered on various acts of omissions and commissions on the part of the officers and officials of BMTC in their discharge of duties, corrupts practices etc., and arranges for proper enquiries. The department also organizes and supervises the activities of checking of buses throughout city and suburban areas of Bangalore.
Checking conducted by vigilance department for pollution level of vehicle of BMTC and private hired buses:
The BMTC has introduced through Vigilance Department a vehicle branded as Parisara Vaahini department fitted with smoke testing meter to check pollution level of BMTC and private hired vehicles en-route.
During 2005-06 the vigilance department conducted emission level tests on BMTC and Private hired vehicles a random at strategic points. During this period in all 5922 BMTC buses and 1154 private hired vehicles were subjected for emission level test, of which 181 of BMTC vehicles were found emitting emissions above 60 HSU. Those vehicles emitting smoke more than the permissible limits have been rectified through Mechanical Engineering Department and fined Rs.100/-per case. An amount of Rs.37100/- has been recovered from Private operators for not attending to vehicles emitting smoke more than the permissible limits
Environmental Cell
Objectives:
a. To set an Environmental Corporate Policy for the corporation
b. To help the depots to follow all the environmental regulations and procedure in vogue
c. Liaison with KSPCB to obtain consent for operation
d. To make environmental plan for the corporation
e. To bring awareness among employees about the importance of environment
f. A forestation programme and landscape development at depots, bus stands and central office
g. To implement new project on environment as and when necessary
h. ISO 14000 certification for depots and central workshop
Environmental Corporate Policy:
a. Environmental sustainability is our destination and cradle-to-Grave is our path. Our entire corporation and all stake holders will value and share this vision.
b. Through eco-effective technology, we will continuously redesign our products; our processes for improvement of our corporation.
Initiation of measures:
The corporation has initiated various measures in its drive to become an eco-friendly transport service provider.
a. To reduce the personalized mode of transportation, the corporation has come out with a policy to induct 1000 parisara Vaahini buses
b. Introduced vestibule buses in the routes with high density of traffic
c. Providing better infrastructure for the traveling commuters will gradually shift to mass transport system resulting in controlling the air pollution in urban areas.
d. Fuel procurement is made directly from the main supplier, which will ensure right quality and correct quantity of fuel besides, adulteration will be avoided, so that engine performance and emissions will be substantially reduced.
e. Initiatives towards clean fuels
Water re-cycling:
What re-cycling plant has been installed in depots 7, Subhashnagar to re-cycle waste water generated by Bus washing section. This will help the corporation to save 10 thousand liters of fresh water per day.
COST CONTROL
The various measures taken by the corporation to control costs and improve the earning include,
• Increasing vehicle utilization to achieve lower cost per Kilometer.
• Intensifying the line checking by adopting selective methods of increase revenue.
• Improve quality of preventive maintenance of vehicles to minimize the incidence of breakdowns and cancellations of services.
• Monitoring the operational activities as per programmes and reviewing the actual performance in all its aspects and taking necessary corrective steps to achieve the targets laid down in the programme.
Social Obligations discharged by the BMTC :
• Connecting all villages around the City through its regular service with buses indicating destination in red board.
• Plying City services to the core areas to ease congestion with buses indicating destination in black board.
• Running limited stop buses to save time of the commuters
• Providing comfort oriented fast moving 'Pushpak' buses
• Chartering services to various industries, schools and colleges
• Offering subsidized travel to the deserving sections of the society
• Issuing passes to various segments of the society
Initiatives of BMTC towards clean fuel:
The Bangalore Metropolitan Transport Corporation has initiated many measures in its drive to become an eco-friendly transport service provider. Some which are listed below:
• BMTC has started using ultra low sulphur diesel in all BMTC buses (0.0025 mg of sulphur content per liter) i.e. it helps in reduction of Sox level considerably.
• Replaced all buses aged 15 years and above.
• To reduce the vehicular pollution. (Smoke meter AVL-437 is used to check the capacity, i.e. Smoke density in terms of Hart ridge units)
• Formulated a policy of inducting buses confirming to Euro-II standards. From 2005, all buses inducted would confirm to Euro-III standards.
• Introduced bi-articulated buses on peak routes.
• All surfaces of BMTC bus depots are being made of cement concrete to prevent dust pollution.
• Formulated an efficient preventive maintenance schedule consistent with the guidelines issued by chassis manufactures. The efficiency of this process is reviewed once in a week at a corporate level.
• To improve the image of BMTC as a “green transport system” using bio fuel
Functional Structure of General Manager:
Sl No Destination Posts
1.
2.
3.
4.
5. General Manager 1
Steno 1
Junior Assistant 1
Typist 1
Office Helper 2
Total 6
ACCOUNTS DEPARTMENT
FUNDS FLOW STATEMENT
Introduction
Many changes take place in the assets, equities, revenues and expenses in the course of business operations. These changes in an asset or an equity account or in revenue or an expenses account over a period of time can be examined and presented in the form of a flow statement. The flow statement may, therefore be defined as a statement which explains increases or decreases in different related accounts for a specified period of time. These flow statements can be classified into four categories;
1. Income Statement
2. Funds Flow Statement
3. Statement of Changes in Financial Position
4. Cash Flow Statement
MEANING OF FUNDS FLOW STATEMENT
According to the Standard, the term “fund” generally refers to cash and cash equivalents, or to working capital. The meaning of two terms ‘current assets’ and ‘current liabilities’ are
1. Current Assets: The term ‘Current Assets’ includes assets which are acquired with the intention of converting them into cash during the normal business operations of the company.
2. Current Liabilities: The term ‘Current Liabilities’ is used principally to designate such obligations whose liquidation is reasonably expected to require the use of assets classified as current assets in the same balance sheet or the creation of other current liabilities or those expected to be satisfied within a relatively short period of time usually one year. The term current liabilities also includes amounts set apart or provided for any known liability of which the amount cannot be determined with substantial accuracy e.g., provision for taxation, pension etc.,
Meaning of “Flow of Funds”: The term “Flow of Funds” means “Change in Funds” or “Change in working Capital”. In other words, any increase or decrease in working capital means “Flow of Funds”.
The following are the general rules:
1. There will be Flow of Funds if a transaction involves
a. Current assets and fixed assets, e.g. Purchase of building for cash.
b. Current and Capital, e.g. Issue of shares for cash
c. Current and fixed liabilities e.g., Redemption of debentures in cash.
d. Current liabilities and fixed liabilities e.g., creditors paid of in debentures.
e. Current liabilities and capital e.g., creditors paid of in shares.
f. Current liabilities and fixed assets e.g., building transfer to creditors in satisfaction of their claims.
2. There will be no flow of funds if transaction involves
a. Current assets and current liabilities e.g., payment made to creditors.
b. Fixes assets and fixed liabilities e.g., Building purchased and payment made in debentures.
c. Fixed assets and capital e.g., Building purchased and payment made in shares.
NEED FOR FUNDS FLOW STATEMENT
The Funds Flow Statement is widely used by the financial analysis and credit granting institutions and financial managers in performance of their jobs. It has become a useful tool in their analytical kit. This is because the financial statements, i.e., “Income Statement” and the “Balance Sheet” have a limited role to perform. Income Statement measures flow restricted to transitions that pertain to rendering of goods and services to customers. The Balance Sheet is merely a static statement. It is a statement of assets and liabilities as on a particular date.
USES OF FUNDS FLOW STATEMENT
Funds flow statement helps the financial analyst in having a more detailed analysis and understanding of changes in the distribution of resources between two balance sheet dates. In case such study is required regarding the future working capital position of the company, a projected funds flow statement can be prepared. The uses of a funds flow statement can be put as follows:
i. It explains the financial consequences of business operations:
Funds flow statement provides a ready answer to so many conflicting situations, such as:
a. Why the liquid position of the business is becoming more and more unbalanced in spite of business making more and more profits?
b. How was it possible to distribute dividends in excess of current earnings or in the presence of a net loss for the period?
c. How the business could have good liquid position in spite of business making losses or acquisition of fixed assets?
d. Where have the profits gone?
ii. It answers intricate queries: The financial analyst can find out answers to a number of intricate questions:
a. What is the overall creditworthiness of the enterprises?
b. What are the sources of repayments of the loans taken?
c. How much funds are generated through normal business operations?
d. In what way the management has utilized the funds in the past and what are going to be likely uses of funds?
iii. It acts as an instrument for allocation of resources: A projected funds flow statement will help the analyst in finding out how the management is going to allocate the scarce resources for meeting the productive requirements of the business. The uses of funds should be phased in such an order that the available resources are put to the best use of the enterprise. The funds should be managed in such away that the business is in a position to make payment of interest and loan installments as per the agreed schedule.
iv. It is a test as to effective or otherwise use of working capital: Funds flow statement is a test of effective use of working capital by the management during a particular period. The adequacy or inadequacy of working capital will tell the financial analyst about the possible steps that the management should take for effective use of surprise working capital or make arrangement in case of inadequacy of working capital.
Advantages of Funds Flow Statement
The chief advantages of the Funds Flow Statement are the following:-
1. Since it gives the figures of cash inflow from operations, it gives much more reliable picture of the results of operations than the usual profit and loss account. Changing the amount of depreciation can easily change the figure of profit. Higher depreciation will mean lower profit and vice versa.
2. Since cash (or funds) is the basis for carrying on operation, the funds flow statement, prepared on an estimated basis for the next period will enable a firm, to plan its financial operations properly. The firm will know how much funds it requires, how much it should make arrangements from outside. This is a process of budgeting.
3. The statement for the previous year compared with the budget prepared before the year commenced will show to what extent the resources for the company or the firm were used according to plan to what extent the utilization was unplanned or not proper. The funds Flow Statement cannot take the place of the final statements of account-the Balance Sheet or the Profit and Loss Account-but it is most useful supplementary statement.
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