Indian Railways has changed the rules for advance ticket booking. Earlier ticket booking used to start 120 days before the journey, now it has been reduced to 60 days. The new decision will come into effect from November 1, 2024. According to the Railway Ministry, the new rules for advance train ticket booking will not have any effect on the tickets already booked. Also, there has been no change in the 365-day deadline for foreign tourists. Currently, ticket booking is done through IRCTC website, app and railway booking counters. 12.38 lakh tickets are booked every day from IRCTC. In 2015, the Railways had extended the advance reservation period
The advance reservation period was 60 days till April 1, 2015. The government had then argued for increasing the booking period to 120 days that extending the period would frustrate the brokers as it would have to pay more cancellation charges. However, many people had argued then that the purpose of the railways to extend the reservation period is to earn additional revenue through interest for the additional 60 days as well as a higher number of cancellations. IRCTC’s earnings from interest and cancellation will be less
With the reduction in the advance reservation period, IRCTC’s earnings from interest and cancellation will be less. Its effect is also visible on its stock. The company’s stock closed down by about 2.5% at Rs 870. The stock has fallen by 6% in a month. The company’s market cap is about Rs 70 thousand crores. There is also a plan to end the waiting list of railways IRCTC was included in the Indian Railways in 1999
Indian Railway Catering and Tourism Corporation (IRCTC) is a ‘Mini Ratna (Category-I)’ Central Public Sector Enterprise under the Ministry of Railways, Government of India. IRCTC was incorporated on 27 September 1999 as a branch of the Indian Railways. Its objective is to manage catering and hospitality at stations, trains and other places. Along with this, to promote domestic and international tourism through budget hotels, special tour packages, information and commercial publicity and development of global reservation system. IRCTC’s corporate office is located in New Delhi. Core activities of IRCTC Read this news also… IRCTC profit increased by 32.75% to ? 308 crore: Revenue increased by 11.88% in the first quarter, the company gave 41% return in a year The profit of Indian Railway Catering and Tourism Corporation Limited i.e. IRCTC in the first quarter (April-June) of FY 2024-25 was ? 308 crore, up 32.75% year-on-year (YoY). Consolidated net profit in the same quarter of FY2023-24 was ? 232 crore. The company’s revenue increased by 11.88% year-on-year. Revenue from operations in the first quarter of FY25 stood at ?1,120 crore. Revenue in the same quarter a year ago was ?1,001 crore. IRCTC released its first quarter results today i.e. on 13th August. Click here to read the full news..
