IRCTC E-Wallet Restrictions: Use Only for Ticket Purchase

The Indian Railway Catering and Tourism Corporation (IRCTC) has clarified that funds in its e-wallets can only be used for ticket purchases and can't be withdrawn. The Railway Minister announced that the balance will be refunded to the user's bank account upon closing the e-wallet.

In a recent announcement to the Lok Sabha, Railway Minister Ashwini Vaishnaw clarified the limitations of the Indian Railway Catering and Tourism Corporation (IRCTC) e-wallet system. Funds deposited can solely be used for purchasing train tickets and cannot be withdrawn directly.

This response came after BJP MP Janardan Singh Sigriwal inquired about the possibility of providing users with an option to withdraw their funds. Concerns were raised regarding the risk of funds getting stuck for an extended period.

Minister Vaishnaw reassured users by stating that upon the closure of an e-wallet account, the remaining balance will be transferred back to the user's bank account. This policy aligns with existing RBI guidelines for closed system prepayment instruments.

(With inputs from agencies.)