Do you know corporates now view Prepaid Cards as a means to increase their Cash Flow!!
Kolkata’s Metro Railway, India’s first underground railway system, has decided to raise fares drastically after 13 years. The new fares will be effective from October 18, 2013.
The Kolkata Metro or Calcutta Metro is the Underground Mass Rapid Transit Urban Railway network in Kolkata (Calcutta), India. It was the first underground railway to be built in India, with the first operations commencing in October, 1984 and the full stretch that was initially planned being operational by February, 1995.
The concept of ‘Smart Cards’ was introduced in 2005. Amongst other, the major benefits of Smart Cards Kolkata Metro envisaged are:
- Reduce the waiting time at Ticket counters,
- Reduce the TAT at Turnstiles
- Reduce the cost of existing magnetic tickets.
Under the Smart Card-based ticketing system, a person is issued a plastic chip card which can be refilled for a certain amount of money. The smart cards automatically determine the distance traveled and deduct the ticket price for that distance from the remaining balance.
In August 2011, Kolkata Metro Railway decided to make smart cards valid for a year. So far, the smart cards were valid for a period of 30 days to 150 days, depending on the amount with which these were recharged. This was expected to boost the sale of smart cards, as due to the low validity period, travelers were hesitant to buy smart cards.
In June 2012, Kolkata Metro announced plans to install automatic smart card recharging machines across all its 23 stations by the end of the year. This was to reduce the load on manual recharge ticket counters.
In October 2013, the rates were increased after 13 years. At the same time to generate cash flow, the Metro authorities have raised the limit for recharging smartcard up to Rs 5000.
WOW, what an Idea SirJi!!
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- “Smart” Credit Cards Are On The Way (miami.cbslocal.com)
- Life in a metro – Kolkata (penslide.wordpress.com)
- Winnipeg Transit to fully phase in smart cards by 2014 (metronews.ca)