Govt. of India had launched the centrally sponsored Mega City Scheme during 1995 and selected 7 cities in the country of which Bangalore was one of them. The guide lines of the scheme is as per central Government notification vide K-14011/35/92-UD-III. GoI MOUD.
Under the Scheme Rs.241.75 crores from Government of India and Rs.241.75 crores from Government of Karnataka were received as Grant.
KUIDFC was appointed as the Nodal Agency for the Bangalore Mega City Scheme.
Total Grant amount of Rs.483.50 crores is lent to different Implementing Agencies as loan for 55 infrastructure projects.
The Mega City Projects envisage overall improvement in the quality of life in urban areas by developing infrastructure facilities
Rate of interest for mega city schemes for different categories are as follows.
- (i) Category A - Remunerative Projects - 6.5 % p.a
- (ii)Category B - Cost Recovery Projects - 5.5 % p.a
- (iii)Category C - Service Oriented Projects - 4.5% p.a
- Rebate is allowed on prompt payment of loan. Door to door tenor of loan will be for 10 years.
- A moratorium period of 2 years is allowed on the loans and the repayment of loan and interest is made in quarterly instalments over a period, which varies from 3 years to 8 years.
- The scheme was closed on 31/3/2005 by GoI & was replaced by introduction of JnNURM on 3.12.2005.
- Under the Guidelines of the Megacity scheme, a ‘Mega City Revolving Fund’ is constituted out of the repayments received from the loans advanced to Implementing Agencies and the interest earnings thereon.
- The MCRF functions are based on the directions issued by the State Level Sanctioning Committee set- up by Govt. Of Karnataka vide G.O No.HUD 478 MNY 93 dated 25.02.1995 and G.O. No.UDD 67 PRJ 03 (1) Bangalore dated 31.03.2003.
- The Terms and Conditions of the Mega City Scheme have been incorporated in the Mega City Revolving Fund.
- Implementing agencies have to prepare a detailed project report of their projects in the prescribed format and submit.
- There reports will be analysed based on priority such projects will be places before SLSC for sanction of assistance.
Project Funding Arrangement
Mega City Revolving Fund(M C R F)
MCRF is operational from 1/04/2005.
Status of Projects sanctioned under the Mega City Revolving Fund are as follows 30-11-2018
|Total No. of projects sanctioned||36|
|Total Cost of projects sanctioned||Rs. 5814.45 crore|
|Total Loan sanctioned for the projects||Rs. 3051.48 crore|
|Total Loan released by KUIDFC to various||Rs. 1654.92crore|
|Total No. of projects completed||15|
|Total cost of projects completed||Rs. 2493.93 crore (loan component: Rs.1216.84)|
|Total No. of projects under progress||11|
|Total cost of projects under progress||Rs.2277.86 (loan component: Rs.1363.54 Crore)|
|Total No. of projects Cancelled||8|
|Total cost of the Cancelled projects||1029.06 crore (loan component: Rs.464.30 Crore)|
|Total No. of projects yet to be taken up||2|
|Total cost of the projects yet to be taken up||Rs.13.60 crore(loan component: Rs 6.80 Crore|
Completed projects under Megacity Revolving Fund (MCRF) as on 30-06-2017
|1||BBMP||Development of 17 Lakes|
|2||BMTC||Construction of 10 TTMC s|
|3||BMTC||Construction of Passenger Amenity Centre at BTM Layout|
|4||BMTC||Construction of Depots and 1 Workshop|
|5||BMTC||Construction of Bus Depots/Terminals/ workshops at nodal points|
|6||BMTC||Financial support to BMTC for purchase of buses|
|7||BWSSB||Prevention of Ingression of sewage into SWD of Hebbal Valley area|
|8||BMRCL||2 Slum rehabilitation projects|
|9||KSRTC||Construction of Satellite Bus Station at Peenya|
|10||KSRTC||Infrastructure developmental works for KSRTC depots in shanthi nagar|
|11||BMTC||Swapping of High Cost Bank Borrowings|
|12||BMTC||Swapping of High Cost Bank Borrowings|
|13||BDA||Construction of 2 Level Grade separator at Nayandahalli at the intersection of ORR & Mysore Road.|
|14||BDA||Construction of flyover along ORR at the intersection of Nagavara-Thanisandra, Nayandahalli and other places.|
Physical Progress of projects under Mega City Scheme & MCRF
|Sl. No||Agency||No of Projects sanctioned||No of Projects completed||Balance|
|1||Bangalore Development Authority||11||5||11||3||2||0|
|2||Bruhat Bangalore Mahanagara Palike||23||4||23||1||3||0|
|3||Bangalore Metropolitan Transport Corporation||10||9||10||7||1||0|
|4||Bangalore Water Supply & Sewerage Board||4||11||4||1||2||0|
|5||Bannerghatta Biological Park||1||0||1||0||0||0|
|6||Karnataka State Road Transport Corporation||1||2||1||2||0||0|
|7||Karnataka Compost Development Corporation||1||0||1||0||0||0|
|8||Karnataka Slum Development Board||4||0||4||0||0||0|
|9||Bangalore Metro Rail Corpn. Ltd.||5|
Status of projects under Mega City Revolving Fund up to (30-11-2018)
(Rs. in Crores)
|Sl. No||Name of the IA||Total No. of Projects||Total Project Cost||Loan/ Grants|
|Sanctioned||Loan released||Principal Repayment Received||Loan Balance|