Security has been beefed up at important stations and railways installations, they said.
"A handwritten letter was received at the headquarter and it has been given to the police to investigate," Divisional Railway Manager (Howrah) R Badrinarayan said.
"It says Rs 50 crore should be paid. There is a mobile number given. It said if the demand was not met, there would be threat to lives in Howrah division," he said.
Eastern Railway officials said security has been beefed up at important stations, including at Howrah and other installations of the Railways.
An investigation is on to find out the source of the letter, they said.
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