IRCTC revenue grows rapidly due to convenience fee for online ticket booking over two years.
IRCTC Update: The Indian Railway Catering and Tourism Corporation (IRCTC) has seen a significant increase in its earnings due to the convenience fee charged for online ticket booking. According to information provided by the Railway Minister, Ashwini Vaishnav, in the Parliament, IRCTC's earnings have doubled in just three years. In the financial year 2019-20, IRCTC earned 352.33 crore from the convenience fee, which increased to 694 crore in 2021-22.
In response to a written question asked in the Lok Sabha, the Railway Minister stated that IRCTC's earnings from the facility fee were 352.33 crores in 2019-20, but decreased to 299.17 crore in 2020-21 due to the lockdown and suspension of rail service. However, in 2021-22, IRCTC's earnings from service charges increased to 694.08 crore, representing a nearly 100 per cent jump in earnings from the convenience fee. As of December of the financial year 2022-23, IRCTC has already earned 604.40 crore from the facility fee.
The convenience fee is charged by IRCTC from passengers who book e-tickets online. For AC class, a convenience fee of 30 rupees is charged for booking tickets through net banking, credit/debit cards, and 20 rupees for UPI payments. For non-AC class, IRCTC charges a convenience fee of 15 rupees for booking tickets through net banking and credit/debit cards, and 10 rupees for UPI payments. However, the Railway Minister stated that the convenience fee is not refunded on ticket cancellation.
On the topic of ticket cancellation, Ashwini Vaishnav explained that a cancellation or clerkage charge is applied under the Railway Passenger's Rules 2015 (Cancellation of Ticket and Refund of Fare). The cancellation clerkage charge is determined by the Railways and applied by IRCTC.
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