Indian Railways To Soon Launch Their Own Debit Cards

The railway minister Piyush Goyal has instructed all the officials to look for ways to lessen the financial burden on IRCTC.

debit card, railways, indian railways, IRCTC, SBI, online ticket booking, railway debit cards, Piyush Goyal, Lottery
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With the aim of promoting cashless payments, the Indian Railways would soon be launching its own co-branded debit cards. It will also be holding monthly lotteries in which 10 lucky customers will receive 100% cashback.

This card will be launched in association with the State Bank of India in collaboration with IRCTC.

Talking about this initiative, a Ministry of Railways officer said, “It will be a railway debit card which can be used for any transaction but on buying rail tickets, it will be free of charges. There will be loyalty plans as well.”

The move has come at a juncture when IRCTC is facing a loss of almost Rs 600 crore per year after demonetisation because the railways waived charges for online ticket booking.

Although initially, the aim was to not impose charges until June 2017, the timeline has now been revised and passengers will not be charged till March 2018.

If booked online, IRCTC used to charge Rs 20 for every sleeper class ticket and Rs 40 for every AC ticket.

Though after demonetisation the charges on online tickets have been removed, the Indian Railways was still bearing the service charges levied by banks. The railway minister Piyush Goyal has instructed all the officials to look for ways to lessen the financial burden on IRCTC.

The Railways will also be conducting monthly lotteries starting from this month where 10 lucky passengers would receive 100% cashback.

“We will be rewarding people for buying tickets online and the first draw will be on January 3. Ten passengers who have bought e-tickets providing their Aadhaar number and have travelled themselves during December will be selected through a lottery and will get the money they have spent on tickets. The draw will be done every month,” said the official.

Information and cover image sourced from financialexpress


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Manali Kulkarni (WRITER)

Manali Kulkarni writes for Reacho. If you wish to get in touch with them, drop in a mail at reach@reacho.in

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