Railways to seek Rs 2,500 crore loan through IRFC for CCTV project

The loan is to be raised through Indian Railways Finance Corporation (IRFC), the finance arm of the national transporter.

Published: 09th July 2018 12:47 PM  |   Last Updated: 09th July 2018 12:47 PM   |  A+A-


Image used for representational purpose


NEW DELHI: Unable to get further allocations from the Finance Ministry under the Nirbhaya Fund, Indian Railways is exploring the loan route to raise Rs 2,500 crore to install CCTVs at all stations and coaches to ensure state-of-the-art surveillance systems in the entire rail network across the country.

The loan is to be raised through Indian Railways Finance Corporation (IRFC), the finance arm of the national transporter. It raises financial resources for expansion and running from the capital markets and other avenues.

There is a total requirement of Rs 3,000 crore for the CCTV project, out of which Rs 500 crore has already been allocated by the Finance Ministry under the Nirbhaya Fund.

"While 436 stations are being equipped with CCTVs, 547 more stations would be covered under the Nirbhaya Fund this year," a senior Railway Ministry official told IANS.

Giving top priority to safety and security at rail premises, the Budget for 2018-19 had approved CCTV systems in 58,276 coaches and 5,121 stations in the Indian rail network.

However, the Railways could not get the Finance Ministry's nod for further allocation under Nirbhaya Fund and was told to raise resources on its own.

So it has been decided to raise Rs 2,500 crore through IRFC, with Railtel repaying the loan. Railtel, the telecom wing of the Railways, is responsible for executing the CCTV projects.

Raising loan through IRFC will be preferable for the Railways as against taking market loan.

According to a revised plan, 42,000 coaches and about 5,000 stations would be equipped with CCTV system to strengthen safety and security of passengers.

"We will begin with AC coaches and subsequently other coaches would also be covered," said the official. "While each coach will have eight CCTV cameras covering the entry gates, aisle and vestibules, all crucial points at stations will have the systems."

Railways has identified 10,349 coaches of suburban trains, 4,038 coaches of premier trains like Rajdhani and Shatabdi, and about 27,000 coaches of superfast and express trains to be covered under the CCTV surveillance system.

All mail, express and premier trains, as well as local passenger services, will be equipped with the modern surveillance systems in the next two years as per the plan.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp