IRCTC reduces the Convenience Fees on E-Tickets by 25%
New Delhi, September 04, 2019: Indian Railway Catering and Tourism Corporation (IRCTC), the extended commercial arm of Indian Railways, in a recent development has decided to reduce the convenience fees to be charged from the customers for booking e-tickets online through its website www.irctc.co.in. The company will now charge Rs. 15/- per ticket for booking Non-AC classes online while it will charge Rs. 30/- per ticket for booking AC and First Classes tickets. This is 25% decrease in the earlier service charges of Rs. 20/- per ticket for Non-AC Class tickets and Rs. 40/- per ticket for AC First class.
The company has further decided to charge only Rs 10/- per ticket for booking Non-AC class tickets and Rs 20/- per ticket for AC and First Class tickets for customers making payment made through UPI/BHIM applications which shall be applicable from 1st November, 2019. The company has also decided to further incentivize the customers making online payment through UPI/BHIM applications.
The existing e-ticketing platform of IRCTC also known as the Next Generation E-Ticketing system (NGeT) was commissioned by the company in the year 2014 for service period of 5 years with a capacity to book 7200 tickets in a minute and was progressively enhanced to book 24000 tickets in a minute.
With the number of bookings of the e-tickets growing day by day, it has become essential to handle this incremental load and meet the industry standards specially during the Tatkal hours. To meet this need and live upto the expectations of the customers, IRCTC is planning to invest in the up-gradation of the infrastructure of the entire e-ticketing system which may require huge investments to build the new system robust, secured with latest booking features and utilities.
Further, IRCTC is also focusing on the capacity enhancement of the ticketing system to support more number of ticket bookings in the near future and to also modernize the e-ticketing system in synchronization with the modernization of the Indian Railway Passenger Booking System which currently has an inventory of 10 lakh reserved tickets per day.
IRCTC is making all out efforts and necessary investments to improve the entire e-ticketing system for seamless navigation.
Disclaimer:
"INDIAN RAILWAY CATERING AND TOURISM CORPORATION LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed the draft red herring prospectus (“DRHP”) with SEBI. The DRHP shall be available on the websites of the SEBI at www.sebi.gov.in, websites of the Stock Exchanges at www.bseindia.com and www.nseindia.com, and on the websites of the BRLMs i.e., www.idbicapital.com, www.sbicaps.com andwww.yesinvest.in. Investors should note that investment in Equity Shares involves a high degree of risk and for details relating to the same, see “Risk Factors” on page 25 of the DRHP. Potential investors should not rely on the DRHP filed with the SEBI for making any investment decision.
The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to persons reasonably believed to (a) be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act, “Rule 144A”) and (b) "qualified purchasers" within the meaning of the U.S. Investment Company Act of 1940, in transactions exempt from, or not subject to, registration requirements of the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sales are made. There will be no public offering of the Equity Shares in the United States."
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