MDR charges will not be collected for Train Bookings through Debit or Credit Cards
Posted on: 02/Mar/2018 3:03:37 PM
MDR-Merchant Discount rate is the extra charge collected for the money transaction involving the train ticket booking in IRCTC website and also directly on the ticket counter through Debit and Credit cards. Paying the money through this medium of cashless transaction is now made easy, as the Central Finance Ministry cut off the MDR charges for the booking.
So the bookings made through online IRCTC website or at the counter by debit or credit cards, the MDR charges will not be a part of their total bill receipt. Instructions to the banks was made by the Central Ministry of Finance about this dropping off of MDR charges on February 26, 2018. This may further enhance the encouragement of cashless transaction among public, said the Indian Railway Administration.
Finance Ministry along with the Indian Railway set in a maximum criteria for this MDR cut off in the ticket booking. Passengers can avail this new lay off of MDR charges only for up to Rs 1 Lakh per transaction through debit and credit cards.
Railway Ministry confirmed the further process about the MDR expenditures will directly passed on to the Consolidated Fund of India, considered as the government receipts from now on.
Another update from the Railway Ministry reported the initiation of printing tickets on the local language for the Unreserved Ticketing System UTS. Passengers who are opting for unreserved tickets booked through UTS can avail their tickets in their own local language.
The new scheme will first be applied as a testing format from March 1, in the counters of Mysuru, Bengaluru and Hubballi Stations of South Western Railways in the language of Kannada. From March 2 this test procedure will be commenced in all other stations of Karnataka.
After analysis this test schema the further investigations and executions on all the regions of Indian Railways will be escalated.
