Good news for train passengers: Go cashless, get discount

New Delhi, Dec 6: If you travel regularly from trian, there is big news for you which can reduce burden on your wallet. 

The Indian Railways has announced 0.5 percent discount to those opting for monthly travel pass which can be made from debit or credit card. 

According to news, this facility can be provided to non-reserved category. The passenger buying tickets via cashless method can also get free passenger insurance as well. Indian Railways are trying to reduce the use of cash, so some incentives are being given for passengers. India Railways is losing 400 crores rupees annually due to the elimination of service charges on the purchase of tickets by IRCTC.

At present, in the passenger segment, 60 percent annual transactions are cashless. There has been an increase of 20 percent in cashless transaction after demonitisation. After the note ban, the railways have provided point of sale (POS) machines at 15,000 ticket counters. Railways receives revenue of Rs 48,000 crore annually from passenger and 95 percent of its freight segments are already cashless.

News24 Bureau