Payment aggregator licence may open avenues beyond rail-ticketing for IRCTC
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 the passage of a special resolution by the shareholders.
