FM commits ₹18,600-cr for suburban rail network

The Finance Minister has committed funds for the 148-km suburban rail project in Bengaluru as the Cabinet has cleared the proposal for the project entailing an investment of ₹18,600 crore. The Centre and Karnataka will share 20% each, while 60% of the project financing will come from multilateral lending institutions. When the special purpose vehicle (SPV) implementing the suburban railway project borrows from overseas institutions like ADB or JICA, the Centre provides sovereign guarantee for the loan.