The Hindu Business Line : Co-branded card for small road transport operators

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New Delhi Feb. 14 The Union Finance Minister, Mr P. Chidambaram, on Wednesday promised that the Government would be "sympathetic" to the concerns expressed by the road transport sector.

"The Government understands your problems. It will be sympathetic to your concerns. I shall certainly keep in mind what Mr Gurinder Pal Singh and Mr Channa Reddy said at an appropriate time," Mr Chidambaram said after launching Shriram-UTI Bank co-branded credit card exclusively for small road transport operators (SRTO).

Compulsory Scrutiny

Mr Gurinder Pal Singh, President, All India Motor Transport Congress, made a case for excluding transport companies from compulsory scrutiny by the income-tax department. He said that classifying them as contractors led to compulsory scrutiny by the tax department.

Mr Chidambaram asked the road transport industry to understand that the various changes brought about by the Government, insurance companies and the Insurance Regulatory and Development Authority are only meant to make the industry more efficient, modern, productive and competitive.

The All India Confederation of Goods Vehicle Owners' Association President, Mr Channa Reddy, said that it would be nice if these credit card issuers could accept deposit of cash anywhere and everywhere.

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