Sri Lanka revises retail fuel prices amid West Asia conflict, Air India extends suspension of flights to Israel till July end,Govt notifies two new special economic zones in Puducherry, BJP wins three of four Himachal civic bodies; Congress retains Palampur, Domestic air traffic falls nearly 4 pc to 1.38 crore in April,

Railways withdraws convenience fee decision,IRCTC stock recovers

Ministry of Railways withdrew IRCTC convenience fee sharing decision within few hours after the massive fall in stock price of IRCTC. Shares of the Indian Railways' catering, tourism and online ticketing arm - Indian Railways Catering and Tourism Corporation (IRCTC) staged a strong recovery. Secretary, Department of Investment and Public Asset Management tweeted, Ministry of Railways has decided to withdraw the decision on IRCTC convenience fee.

Earlier in the day, IRCTC shares plunged as much as 29 per cent to hit an intraday low of Rs 650.10 on the BSE after the company informed exchanges on Thursday that Ministry of Railway asked it to share half of all the convenience fee revenue it earns. However, post the clarification from the government IRCTC stock staged a recovery of 39 per cent to hit an intraday high of Rs 906. IRCTC had collected around Rs 300 crore as 'convenience fee' in financial year 2020-21. Railway Ministry wanted IRCTC to share 50 per cent of this amount, which comes to Rs 150 crore. For the last five years, IRCTC has been collecting and utilising all funds collected as convenience fee to run its operations, 


Newsinc24 is now on telegram. Click here to join our channel @newsinc24 and stay updated with the latest news from politics, entertainment and other fields.

Related Items

  1. US pressures Palestinian envoy to withdraw bid for UN vice-presidency

    Full Story

  1. India, Sri Lanka share centuries-old civilizational, cultural & sprotual bonds: Birla

    Full Story

  1. Iran says no decision yet on talks, Trump offers Tehran new deal

    Full Story

My Cartoon


image1


Photos

Food & Lifestyle

Avocado: A heart-smart ingredient worth adding to your plate

Avocado is also an excellent source of dietary fiber. Including it in your meals can contribute significantly to your daily fiber intake. 

Read More

Crime

8 with links to ISI arrested, were planning attacks in Delhi, Mumbai

The Delhi Police Special Cell has arrested 8 suspected terrorists allegedly linked to a Pakistan-based network involving the ISI. 

Read More

Opinion

Brittle Giant: The internal cracks facing beijing’s imperial ambitions

China's core working-age population is contracting by millions of people every year. By the middle of this century, 

Read More

Credibility Matters at Newsinc24.com because it is a website that gives you fast and accurate news coverage. It provides news related to politics, astrotalk, business, sports as well as crime. Also it has book promotion too. We known for our credibity. You can contact us for your querries on our email address. And, If you want to know more about us, then check the relevant pages for this purpose.