Payment aggregator licence may open avenues beyond rail-ticketing for IRCTC

Recently secured shareholder approval to approval RBI; has database of 100 mn users

IRCTC
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The process to apply for a licence RBI may also need the Ministry of Railways’ approval, which should be accorded swiftly, without any issues, sources said.

Dhruvaksh Saha New Delhi
Indian Railway Catering and Tourism Corporation (IRCTC) can now apply for a payment aggregator licence to the Reserve Bank of India (RBI), and if approved, can enter the payments space with one of the country’s largest back-end databases of over 100 million users.
 
The ticket-booking arm of the Indian Railways secured an approval from the Registrar of Companies, NCT, Delhi, and Haryana to alter the Main Objects Clause of the Memorandum of Association and insert a new clause to act as a payment aggregator.
 
The decision was made at the recently concluded annual general meeting (AGM) of the company, upon

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First Published: Sep 19 2022 | 4:23 PM IST

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