Indian Railway give green light to go cashless

Indian Railway give green light to go cashless 

Indian Railways has taken steps to make railway travel bookings digital and asked the State Bank of India and ICICI Bank among others to provide around 15,000 point of sale (PoS) machines at reservation counters. About a thousand of these machines is supposed to be made available by Dec 31.

Currently, the Railways do not provide POS service for debit and credit card payments at its ticket counters.Indian Railway has 12,000 ticket counters. All of them would be equipped with one or more POS machines depending on the daily transactions to make cash management easier.

iv. In the first phase, the machines will be installed at all counters of urban centers  like Mumbai, where there’s a huge sale of monthly passes. SBI has promised to provide 1,000 machines.

v. The railways ministry will also go cashless for paying vendors and contractors. A notification would soon be issued that payment for all expenses should be made cashless by all zonal and divisional railways.