The Modi government is selling its shares in Indian Railways' IRCTC


BanglaHunt Desk: The Modi government is about to sell its stake in the Indian Railway Catering and Tourism Corporation (IRCTC). This is what is being known from the sources of popular news medium CNBC Awaaz.

Shares of IRCTC will be sold through OFS. The disinvestment department has already invited bids from merchant bankers to buy the shares. The pre-bid meeting will be held on September 3.

Incidentally, IRCTC is a subsidiary of Indian Railways. Indian Railways tickets are booked with the help of this corporation. The company also operates several private trains. IRCTC entered the stock market in October 2019. Shares of the company closed at Tk 1,383 on Wednesday.

IRCTC is one of the busiest websites in Asia-Pacific. Through this 2.5-2.8 crore tickets are sold every month. 7 crore people login to its website every day.

Earlier, Railways announced its decision not to hire this time to reduce costs. According to railway sources, recruitment has been suspended for the time being in all cases except for posts related to security. This instruction has recently been sent to all the general managers of the railways.

The process of abolition of 3,081 posts will start soon. A total of 3,081 posts will be abolished in 4 divisions and headquarters of the railways. It is learned that 65 posts of South-Eastern Railway will come under it.

Earlier, Indian Railways DG Anand S Khati told a press conference that the railways would not let anyone get a job and would not slow down the recruitment process. He said any safety class job required for the operation of the train would not be surrendered. Surrendering non-safety vacancies for new railway infrastructure projects will help create more safety vacancies.

New structures are being built as a result of modern technology used in railways. As a result, the amendments need to be used properly. And for this reason, all the pre-admission campaigns for different categories of posts will continue. No one will get a job in the railways.