Business Desk, Amar Ujala, New Delhi
Published by: Mukesh Kumar Jha
Updated to Friday, 29 October 2021 01:07 PM IST
The IRCTC on Thursday asked the Railway Ministry to share 50 per cent of the revenue generated through bookings on its website with Indian Railways.
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IRCTC stock fell 29 per cent to a low of Rs 650.10 on the BSE on Friday, following a decision by the Railway Ministry. However, IRCTC shares recovered 39 per cent to close at Rs 906 after the government’s announcement. Convenience fees charged from customers provide huge revenue to IRCTC. Fees are not part of the train fare. It is charged for the online ticket booking service provided by IRCTC. IRCTC shares fell 20 per cent on Thursday following a decision by the Railway Board.
The Ministry of Railways has decided to withdraw the decision on IRCTC convenience fees pic.twitter.com/HXIRLxXTlL
– Secretary, DIPAM (SecyDIPAM) October 29, 2021