IRCTC decided to sell passenger details to private individuals..?
IRCTC decided to sell passenger details to private individuals..?
While companies like facebook and google have been claiming that they are making money by selling their users' data, the indian Railway Catering and Tourism Corporation (IRCTC) is planning to raise Rs 1000 crore by selling their users' data. It is said to include the name, age, gender, address, email address of the irctc users, the route they travel, transaction method, password, etc.
When contacted by a prominent english media outlet, the irctc has claimed contracts for two projects. But they do not sell irctc passenger details. It is said only to explore how they can be used commercially to increase revenue.
Plan 1:
IRCTC will analyze passenger details and choose a consultant to identify a business model on how to monetize them.
Plan 2:
The irctc is said to have sought contracts on how to find, design, and process the business model once it has been developed. contract holders can apply for either or both of these. While the Personal Data Protection Bill 2019 is yet to be fully enacted in India, the tender application details released by irctc have caused a major shock among railway workers. But these details will not be released until the Data Protection Bill is fully enacted, irctc said.
The market capitalization of irctc shares is Rs 58,808 crore. The current price per share is Rs 735. irctc has been offering shares through IPO since 2019 and is a trusted company that has been giving high returns to investors.