Govt withdraws IRCTC convenience fee revenue sharing decision

The railway ministry has decided to withdraw its decision of asking IRCTC to share its revenue from convenience fee with the the government, Tuhin Kanta Pandey secretary of the department of investment and public asset management (DIPAM) said in a Twitter post Friday.

"Ministry of Railways has decided to withdraw the decision on IRCTC convenience fee," the secretary said.

The withdrawal came a day after IRCTC told stock exchanges of the ministry of railways' decision to share the revenue earned from the convenience fee collected by the railways ticketing portal and the catering arm of the railways in the ratio of 50:50 with effect from November 1.


The announcement led to severe battering of the IRCTC stock on the bourses, with the scrip falling to Rs 685.35 in early hours of trade on Friday after opening at Rs 822.40. It closed the previous day at Rs 913.75 after the stock split 1:5.

However, after the clarification from the government, the stock had recovered to Rs 854.65 as of 12 30 pm.