This study examines the serious issue of ‘revenue leakage and ticketing irregularities’ in the Maharashtra State Road Transport Corporation (MSRTC). It primarily focuses on weaknesses in centralized financial systems, particularly the Electronic Ticketing Machines (ETMs) and the Online Reservation Systems (ORS). The research employs a quantitative, survey-based method and collects data from MSRTC employees, comprising 110 from the MSRTC head office in Mumbai Central. Various statistical tools, including Pearson correlation, Exploratory Factor Analysis (EFA), Spearman’s rank correlation, and paired-samples t-tests, are used to test five key hypotheses. The results clearly show a strong and statistically significant relationship between internal control weaknesses-including technical delays, administrative gaps and structural flaws-and major revenue loss. The study identifies five main vulnerability factors in the ETIM and ORS systems and finds that these weaknesses are closely connected. The findings confirm that improving system controls, monitoring systems, and audit processes can significantly reduce revenue leakage. Overall, the study offers practical and system-level recommendations to enhance MSRTC’s revenue collection system and address a key contributor to its growing financial crisis.