The Brihanmumbai Municipal Corporation (BMC) recently broke three of its fixed deposits (FD) from its reserve fund to bail out the BEST Undertaking. It has decided to give Rs 1,136 crore to the BEST to get rid of its debts and another R600 crore for monthly expenses. The BMC has already given the Rs 600 crore and in August it broke its FDs to give Rs 478 crore (to repay part of the Rs 1,136 debt) to BEST.

The FDs were broken as per BMC's plan for its transport wing which is reeling under debts. The BMC will provide financial support to the BEST. The civic body sanctioned Rs 600 crore in June, — Rs 100 crore per month - for the rest of the year. It has decided to give Rs 1,136 crore as the transport wing has that much debt and has to pay 9 to 11 per cent interest on it.