The Indian Railway Catering and Tourism Corporation is a wholly owned subsidiary of the Indian Railways. It provides ticketing, catering and tourism services. It also operates its own e-ticketing system. It is also partnered with many food chains. This article covers some of the current issues facing IRCTC.
IRCTC’s management dispute with Cox & Kings Limited
The Indian Railway Catering and Tourism Corporation has a joint venture with Cox & Kings Limited called Royale India Rail Tours Limited. The two companies are in dispute over management of the company. IRCTC filed a Special Leave Petition in the Supreme Court seeking a judicial decision. However, the Court dismissed it and directed both parties to enter into arbitration. The arbitral proceedings started on 6 July 2012.
The dispute is the result of the earlier arrangement between the two parties. Originally, Cox & Kings managed the Maharaja Train, but IRCTC felt it was more profitable to run it. Hence, it took over the operation of the train. This sparked a dispute between the two companies, which led to a Delhi High Court decision. However, the judgment did not influence the outcome of the arbitral proceedings.
Despite this decision, Cox & Kings has filed an appeal. The company argued that it had invested a huge amount of money to make the project a success. It said that IRCTC’s decision to shut down the train would cause a huge embarrassment internationally, as most of the advance bookings were from foreigners.
The companies are involved in inbound and outbound travel, leisure, and foreign exchange dealing. They report a combined annual turnover of Rs. 31,612 Lacs in FY17. The companies are owned by the same entity, Cox & Kings Ltd., which is listed on the BSE and the Luxembourg stock exchange. Moreover, the company’s financial statements are compliant with Indian Accounting Standards.
IRCTC’s e-ticketing system
In case of complaints filed against a principal agent, the IRCTC may initiate action against the agent by terminating the contract for six months and permanently deactivating the principal agent. Further, the IRCTC may take legal action against such agents if they fail to follow the rules and regulations laid down by it.
The IRCTC’s e-ticketing system is a web application that is available for online reservation of railway tickets. The service is free and has several benefits. The IRCTC’s e-ticketing system has more than six crore users, and more than eight lakh tickets are booked every day on the website. In fact, more than eighty per cent of reserved railway tickets are booked online with IRCTC.
The system is user-friendly and has an intuitive web interface. It also offers multiple payment options and is highly secure. It is backed by partnerships with 18 major banks. This allows users to pay for their tickets without having to worry about losing their credit card details or compromising their data security.
Besides, the new e-ticketing system of IRCTC aims to provide seamless e-ticketing services for travellers, a more efficient user interface and higher booking loads. The new system also provides new features and experiences to enhance the experience of passengers. The user-friendly interface and novel features for personalisation make it a valuable resource for passengers.
Despite all these benefits, there are a few things to keep in mind before using IRCTC’s e-ticketing system. First of all, it’s important to note that unauthorized branding of tickets is strictly prohibited. The IRCTC website also contains the provision to deactivate unauthorized agents. Failure to do so will result in further action against the agent.
Secondly, it’s crucial to note that the IRCTC e-ticketing system is not yet complete. The railway agency has to continue working on the e-ticketing system and make it easier for passengers to find the right seat. The IRCTC website is the first point of contact for travelers and needs to be user-friendly.
As a precautionary measure, IRCTC reserves the right to release your information to the appropriate authorities if the need arises. The e-ticketing system does not allow agents to use this system for commercial resale or for commercial purposes. This system also prevents the sale of fake tickets or bookings made in anticipation of demand.
IRCTC’s partnership with food chains
The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with food chains to offer passengers a convenient option for dining on trains. The companies will deliver meals to passengers at select stations and provide a choice of payment options. Customers can place orders online two hours in advance. Once ordered, food will be delivered two hours later. Moreover, passengers can pay online or by cash on delivery.
The Indian Railway Catering and Tourism Corporation (IRCTC) is a central public sector organization that manages the food services on board Indian Railways. The company’s primary objective is to promote domestic tourism and professionalize catering services. The company partners with private food chains to provide a wide variety of food and beverage choices for passengers.
In recent years, IRCTC has partnered with multiple food chains and brands to offer a variety of choices for customers. Besides, IRCTC has partnered with a number of companies, including PayTM, Mydala, and Vodafone, to offer its customers deals. In addition, the IRCTC has signed a two-year agreement with Amazon to provide food and drink services on board the trains.
Providing food on trains has become easier thanks to new technologies. Zoop, an Indian railway catering and tourism corporation (IRCTC) food service, has teamed up with Reliance’s Haptik, a mobile payment app. Passengers can order their meals online via WhatsApp using a chatbot, named Ziva. Once ordered, passengers will receive their food at their seats. The new technology ensures that orders are processed quickly and efficiently.
The IRCTC is also partnering with food chains to improve the quality of food served on trains. The new food service is designed to offer a variety of food options to customers. Food delivery is a key component of IRCTC’s mission to promote domestic and international tourism.
The Indian Railway Catering and Tourism Corporation (IRCTC) recently backed away from a controversial tender for the monetisation of passenger data. Privacy concerns are a key concern for many travelers and IRCTC told the parliamentary committee chaired by Congress MP Shashi Tharoor that it will no longer pursue the monetisation of passenger data.
IRCTC’s ISS Governance QualityScore
The ISS Governance QualityScore is a framework for comparing a company’s governance practices to that of similar companies in a given industry. It is based on a library of more than 230 factors, with up to 120 factors scored per company. The factors are arranged in question and answer format, and the ISS uses the answers to determine a company’s score. The scores are then grouped by category and aggregated for the overall ISS Governance QualityScore.
The ISS Governance QualityScore incorporates company disclosures and draws information from publicly available materials. It is further augmented by proprietary analytics. ISS also analyzes proxy voting policies and recommends changes. Although companies can change their answers to Governance Quality Score questions most of the year, changes are limited between the filing dates for proxy materials and the publication of ISS’s proxy analysis.
In addition to a new focus on board composition, the Governance Quality Score methodology has been revised to give deep insights into the governance of information security risk. Eleven new factors have been introduced, including new subcategories on Information Security Risk Management and Information Security Risk Oversight. Diversity and Inclusion will also be bolstered with a new factor evaluating ethnic diversity on the board. In addition, the Compensation category will add two new factors, including the amount of diversity and inclusion performance metrics disclosed and the presence of special grants awarded to executives.
The ISS Governance Quality Score is updated once a day at approximately 5am ET (10am UTC). However, the ISS website will not reflect the updated score until the next daily update. The updated score will be visible on the following day after the next daily update.
As the ISS Governance Quality Score methodology is data-driven, it is designed to help institutional investors evaluate governance risk and quality within a company’s portfolio. It covers over 5,800 publicly traded companies in 30 markets, including the largest U.S. companies, and several global regions. It analyzes correlations between governance and key financial metrics. Then, ISS assigns greater weight to the factors with the highest correlation.