The BMC has conceded defeat in its battle with motorists over the Rs 10,000-a-violation parking fine it introduced in July. However, in a respite to the Mumbaikars, BMC has called-off its decision of penalising Rs 10,000 for illegal parking. Many formulae are being discussed, including one under which the fine will not be more than five times of a day’s parking bill at a BMC-run street parking facility. If this formula were to be accepted, the fine will around only Rs 1000. Watch full bulletin.