Railways stops cash refund for train ticket cancellations1 min read . Updated: 10 Nov 2016, 08:27 PM IST
The railways is issuing ticket deposit receipts for refunds after train ticket cancellations
New Delhi: Facing shortage of currency notes of lower denominations coupled with heavy rush at booking counters, the railways has stopped giving refund for cancellation of tickets in cash and instead issuing ticket deposit receipts (TDR).
Besides, in case of refund amount touching Rs10,000 or above, the railways will only transfer the amount to the customer’s bank account and the person concerned is required to furnish account details for receiving the amount while cancelling the ticket.
The government had demonitized Rs1,000 and Rs500 notes from the midnight of 8 October with the aim to fight black money and corruption, while exempting a few emergency services like hospitals, petrol pumps, railways and airports for three days up to 11 November. However, the demonitization move has attracted heavy rush at ticket counters at railway stations resulting in cash shortage.
“So we are giving TDR to those who are cancelling tickets and if the refund amount is Rs10,000 or more then it would be returned to the bank account of the person," a railways official said. The demonitization of higher denomination has also brought down the e-ticketing business by about 10% on 9 November as compared to the previous day as there is a surge of over 13% at the counter sale.
According to IRCTC, the online ticketing arm of the railways, total 5,55,587 e-tickets were booked on 8 October, while it fell to 5,07,996 on 9 October. The railways earned Rs123 crore on ticket sales on 9 October as against the collection of Rs109 crore on 8 October, an increase of Rs14 crore. The rush at counters across the country is expected to ease out after 11 November, the official added.