Bangalore, May 28 (IANS) Leading private sector bank Federal Bank Ltd Monday tied up with the state-run Bangalore Metro Rail Corporation Ltd (BMRCL) for automatic fare collection at 13 stations in the northern suburb to be commissioned this year-end.
As part of the agreement, signed by bank's chief executive Shyam Srinivasan and BMRCL managing director N. Sivasailam here, the Aluva (Kerala)-based bank will also provide top-up facility to smart card users of 'Namma Metro' in the 12.4 km northern reach from upscale Malleshwaram to Nagasandra industrial area on the city's outskirts.
"The metro stations will have automatic fare collection facility with electronic debit card machines at all the new stations and will provide commuters ATM, internet banking,mobile banking and top-up smart cards at our point of sale terminals," the bank said in a statement.
Noting that the debit-cum-travelcard being used in the first reach of the Namma metro rail between the central business district and eastern suburb was the best of its kind service to eliminate delays, Sivasailam said the company was looking forward to enhance the comfort level with extensive use of commuter-friendly facilities.
The much-delayed metro rail service began Oct 20, 2011 from upscale M.G. Road downtown to Baiyappannahalli in the eastern suburb covering a distance of 6.7 km in 12 minutes.
When completed by 2014, the 42.3-km double line electrified track in the first phase will snake through the city, with 18.1 km on east-west corridor and 24.2 km on the north-south corridor, including 8.8km underground in the city centre.
Though civil works began in 2007 after Prime Minister Manmohan Singh laid the foundation stone in June 2006, the Reach-1 was executed in March 2011, 24 months behind the original schedule at a cost of Rs.4,000 crore.