IT and banking firms lose Rs 225 crore in 1 day due to ‘poor infrastructure’

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(Representative image) IT, banking firms lost Rs 225 crore in one day due to Bengaluru rains

Photo: ANI

Bengaluru-based Outer Ring Road Companies Association (ORRCA), an IT and banking company organization located in the Outer Ring Road (ORR) area of ​​the city, in a letter to Karnataka Chief Minister Basavaraj Bommai, said that member businesses and establishments lost Rs 225 crores in a single day due to intense rains and subsequent flooding, blaming poor infrastructure for the losses.

Parts of the city were submerged after heavy rains brought India’s IT and startup capital to its knees on August 30.

“The poor infrastructure of this corridor reduces business efficiency and productivity and puts the safety and welfare of employees at risk. Flooding on ORR on August 30 resulted in a loss of Rs 225 crore as staff was stuck on the road for more than 5 hours,” the ORRCA letter read.

The body further noted that the inadequate infrastructure situation on the ORR has reached a “crisis level”, despite the fact that only 30% of workers employed in the region work from an office.

The infrastructure collapse has sparked global concern over Bengaluru’s ability to handle further growth, he added.

Some of the member companies, which have made a substantial investment in ORR, have had to trigger emergency business continuity plans, restart work from home or transfer critical works to sites outside Bangalore, causing damage. to the reputation and economy of the city and state. , adds the letter.

The situation has persisted for three days and beyond.

The group further alleged that several construction projects planned to ease the situation in the ORR area have stalled or are progressing very slowly.

In addition, several projects for the construction of arterial roads, high-density corridors and the improvement of the traffic situation due to the construction of the metro were given the green light a few years ago but have not not been completed.

The association demanded a clear roadmap for improving the situation.

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