You would be surprised to know that Indian Railways earn less than 5% of their revenues via non-fare sources. In order to increase this share, and to introduce innovative approaches for generating revenue, IRCTC is all set to unleash few major plans in the coming days.
Last year in October, we had reported that IRCTC will monetize 100 terabytes of passenger data.
After Railway Minister asked Zonal heads of all 16 Railway Zones to come up with ideas pertaining to increase non-fare revenues to Rs 2000 crore within a year, there are some of the short-listed and approved ideas:
Venue For Destination Wedding: Rail Platforms
Indian Railways has decided to convert their platforms into wedding venues and locations where parties can be held. Soon, families can proudly announce destination weddings at railways platform.
As per a report, Surat’s platform #4 would be soon converted into such a wedding destination, as a pilot project. Once the results are visible, the same plan would be extended to other platforms as well.
A former notification in this regard would be announced soon.
Branded Trains & Platforms For Ad Revenues
Soon, you can witness terms like ‘Coke Rajdhani’ or ‘Pepsi Shatabdi’ and Patanjali Railway Station, as IRCTC will soon roll out advertisement contracts for the entire train & platforms, rather than partial contracts for food, outdoor posters etc.
A senior Railway Official said, “The railways has shunned the earlier approach of selling advertisement rights on a piece-meal basis and is ready with plans to award media rights for the entire train (both inside and outside) and stations on a long-term basis to big corporate players..”
As per reports, this proposal has been accepted, and a formal announcement would be made soon.
2000 ATMs on Platforms
In another major innovation, Indian Railways has offered their platforms to major banks for installing their ATMs. As per the proposal, space for 2000 ATMs have been earmarked, and the details have been shared with the concerned bank officials.
The contracts would be provided for a period of 10 years via e-auction process, and the selected banks, financial institutions would be provided with branding opportunities as well.
As per another report, IRCTC will soon launch on-demand entertainment services on the running trains in order to generate more non-fare revenues. Plans of advertisement via vinyl wrapping of train exterior (including windows of AC coaches) and interiors of coaches have already been approved, besides installation of large electronic billboards on platforms and using the foot-over-bridge for advertisements by major brands.