Indian Railways Catering & Tourism Corporation Limited (IRCTC) is likely to reverse its decision and abandon its earlier plan to monetise users’ data in order to generate additional revenue.
The development comes amid criticism and data privacy concerns raised by IRCTC’s decision. IRCTC issued a tender earlier this week to hire a consultant to monetise its passenger, freight, and parcel business data, with a potential revenue of INR 1,000 Cr. In its tender, the IRCTC stated, “IRCTC wishes to engage a consulting firm to assist in the identification, design, development, and roll-out of data monetization opportunities.” Following the announcement, the company’s stock increased by more than 3% to INR 735.10 on Friday (August 19).