India, July 29 -- The Maharashtra cabinet on Tuesday approved an increase in the authorised share capital of the Mumbai Railway Vikas Corporation Limited (MRVC) from Rs.25 crore to Rs.500 crore, providing a major boost to expanding suburban railway infrastructure and services in Mumbai.

The MRVC was established in 1999 as a joint venture between the union government's ministry of railways and the state government, with an equity participation ratio of 51:49, respectively. The corporation is responsible for implementing infrastructure development projects under the Mumbai Urban Transport Project (MUTP), including development, expansion, and modernisation of Mumbai's suburban railway network, as well as enhancing passenger amenities and im...