IRCTC Incorporates Wholly Owned Subsidiary For Payment Aggregator Business

Indian Railway Catering and Tourism Corp. has incorporated IRCTC Payments.

The wholly owned subsidiary has been incorporated for the payment aggregator business, according to an exchange filing on Saturday.

"...(IRCTC) has incorporated a wholly owned subsidiary company in the name of “IRCTC Payment Ltd” ... for the purpose of payment aggregator business," it said.

Recently, IRCTC also signed a memorandum of understanding with the Uttarakhand Tourism Development Board. It is for the purpose of having dedicated Bharat Gaurav tourist trains.

The idea is to bring travellers from all of India to visit tourist places in Uttarakhand and to promote the lesser-known destinations.