Rs 10 lakh insurance cover for rail passengers in less than Rs 2

IRCTC is launching a host of initiatives, including passenger insurance and unreserved ticketing.

Mumbai: Indian Railway Catering and Tourism Corporation on Friday said it is launching a host of initiatives, including passenger insurance and unreserved ticketing.

"We are going to start passenger insurance soon and have already issued letter of award. We have short-listed three companies. The insurance would be less than Rs 2 per trip for a sum insured of Rs 10 lakh," Arun Kumar Manocha, Chairman and Managing director of IRCTC, said here.

The public-sector undertaking of the Railways, which handles catering, tourism and Internet ticketing activities, today also partnered with the State Bank of India to enable digital payments through the SBI's mobile wallet Buddy.

The company is also working together to explore other areas of railway ticketing activities, Manocha said.

"We are planning to enter unreserved ticketing system; it would be available in a few months time," he said.

Manocha said IRCTC is integrating android software which will make refund process of e-ticket cancellation simpler.

The company is working with several institutions, including Central Food Technological Research Institute, Mysore, and Institute of Hotel Management, Catering & Nutrition, Pusa just to provide upgraded services, he said.

IRCTC is planning to launch its own e-wallet in a renewed form, he added.

"The failure for card payment is only 2-3 percent because of the pathway issues. We are hoping to launch e-wallet in the renewed form. It will be made free for the first three months. Currently it is linked to the pan card and it will also be linked to the Aadhaar card soon."

He said they have started the process for e-wallet which should be launched by Dussehera or Diwali (in October).