Mumbai: The uproar on Dalal Street against the railway ministry\u2019s decision to have a 50% share of the convenience fee that IRCTC charges its ticket booking customers forced the government to withdraw it on Friday morning. The move was prompted also by the company\u2019s suggestion to the ministry that the levy should be withdrawn as its revenues were yet to be back to pre-Covid levels, government sources said.
\nEarlier in the day, the IRCTC stock had crashed nearly 29% on the back of the government\u2019s decision that had come in Thursday\u2019s post-market hours. Although the stock recovered most of its early losses after the government backtracked, it still closed 7.5% in the red at Rs 846 by close of Friday\u2019s trading on the BSE.
\nAccording to a report by Motilal Oswal Financial Services (MOFS), the issue relating to sharing of convenience fee between the government and IRCTC \u201cwill always remain a key overhang until there is a clear policy from the government on the sharing ratio\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
Mumbai: The uproar on Dalal Street against the railway ministry\u2019s decision to have a 50% share of the convenience fee that IRCTC charges its ticket booking customers forced the government to withdraw it on Friday morning. The move was prompted also by the company\u2019s suggestion to the ministry that the levy should be withdrawn as its revenues were yet to be back to pre-Covid levels, government sources said. Earlier in the day, the IRCTC stock had crashed nearly 29% on the back of the government\u2019s decision that had come in Thursday\u2019s post-market hours. Although the stock recovered most of its […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,260,137],"tags":[],"class_list":["post-446318","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-railways-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/446318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=446318"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/446318\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=446318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=446318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=446318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}