Passengers can now get an instant refund of their cancelled tickets through the Indian Railway Catering and Tourism Corporation (IRCTC) new feature. Earlier, passengers had to wait for 48-72 hours to get their refund for the cancelled tickets booked through the online medium.
This feature will save a considerable amount of time after the ticket is cancelled by the passenger. Passengers will get financial freedom who want to do the subsequent bookings on the same/next day without worrying about the credit of the refund amount into their bank account from IRCTC.
Almost 83 percent of the total reserved tickets are book through internet ticketing website, according to IRCTC.
Here's all you need to know about new feature of IRCTC's IPay:
-Service Charge, Cancellation Charge and Payment Gateway Charges will be deducted from the user's account.
-IRCTC has launched a new feature "IRCTC IPay" for an instant refund for the cancelled ticket.
-This feature is most useful in cases where a ticket does not get booked even after deduction of payment from the user's Bank or Tatkal waitlisted ticket remains waitlisted even after preparation of chart and waitlist ticket is dropped from charting. In such cases only IRCTC.
-IRCTC has now equipped its payment gateway "I-Pay" with the "AutoPay" feature.
-This feature also tends to minimize the refund time for Tatkal bookings for the transactions that remain waitlisted and attract auto cancellation.
-AutoPay feature ensures higher reliability of ticket booking through the pre-authorized mandate as it reduces the user's time In keying in the payment instrument details.
-For waitlisted cases of Tatkal bookings, where the booking remains waitlisted even after preparation of the final chart, only the cancellation charges are recovered from the transaction and the mandate is released.
-In this feature, the user has to allow for debit to his UPI bank account / other payment instruments through a mandate facility which creates a lien on his payment instrument.
-In this functionality, funds are blocked from the user's bank account and the debt is raised for the full booking amount only when the confirmed ticket gets booked.
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