Indian Railway Catering and Tourism Corporation Limited (IRCTC), a prominent player in the Indian travel and tourism sector, has made a significant stride into the digital payments landscape. The company's wholly-owned subsidiary, IRCTC Payments Limited, has received in-principle authorization from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator under the Payment and Settlement Systems Act, 2007.

RBI Authorization Details

The Reserve Bank of India granted this crucial authorization through a letter dated August 04, which IRCTC received via email on August 05. This development marks a pivotal moment for IRCTC, allowing its subsidiary to expand its services into the burgeoning digital payments sector.

Implications for IRCTC

This authorization positions IRCTC Payments Limited to become a key player in the online payment aggregation space. As a payment aggregator, the company will be able to facilitate e-commerce transactions by providing payment services to merchants. This move is expected to diversify IRCTC's revenue streams and strengthen its position in the digital economy.

Regulatory Compliance

In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, IRCTC promptly informed the stock exchanges about this development. The company's commitment to transparency is evident in its timely disclosure of this market-sensitive information.

Management Update

In a separate but noteworthy development, IRCTC's Board of Directors appointed Shri Manoj Kumar Sharma as a Key Managerial Personnel (KMP) effective August 04. Sharma, who serves as the Director (Catering Services), brings with him 28 years of experience in the Indian Railway Traffic Service (IRTS). His extensive background in various aspects of railway operations, including marketing, business development, and project management, is expected to contribute significantly to IRCTC's strategic initiatives.

Looking Ahead

As IRCTC ventures into the payment aggregator space through its subsidiary, it is poised to leverage its strong brand presence in the travel and tourism sector. This expansion into digital payments aligns with the growing trend of digitalization in India and could potentially open up new avenues for growth and customer engagement for the company.

Investors and industry observers will be keenly watching how IRCTC Payments Limited capitalizes on this opportunity and integrates payment aggregator services into its existing portfolio of offerings.

IRCTC has announced a significant change in its leadership team. The company's Board of Directors has appointed Shri Manoj Kumar Sharma as a Key Managerial Personnel (KMP), effective August 4, 2025. This appointment marks an important step in IRCTC's management structure.

New Role for an Experienced Railway Officer

Manoj Kumar Sharma, who currently serves as the Director (Catering Services) at IRCTC, brings a wealth of experience to his new role as a KMP. Sharma is an Indian Railway Traffic Service (IRTS) officer from the 1995 batch, boasting an impressive 28 years of experience in the railway sector.

Extensive Background in Railway Operations

Prior to this appointment, Sharma has been associated with IRCTC since March 12, 2024, serving as the Group General Manager for the North Zone. His extensive career in the Indian Railways spans across four zones:

• Northern Railway
• Northeast Frontier Railway
• North Eastern Railway
• South East Central Railway

Diverse Expertise

Throughout his career, Sharma has been actively involved in various aspects of railway operations, including:

• Marketing and Business Development
• Operations and Transportation
• Planning and Project Development
• Vigilance and Safety
• Information Technology

This diverse experience positions him well for his new role as a Key Managerial Personnel at IRCTC.

Official Appointment Details

The appointment was officially approved by IRCTC's Board of Directors during a meeting held on August 4, 2025. This information was disclosed in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Looking Ahead

With Manoj Kumar Sharma's appointment as a KMP, IRCTC reinforces its management team with a seasoned professional who brings decades of railway sector experience. This move is expected to contribute to the company's ongoing efforts to enhance its services and operations in the dynamic landscape of Indian railways and tourism.

IRCTC continues to play a crucial role in India's railway and tourism sectors, and this latest appointment underscores its commitment to strengthening its leadership to meet future challenges and opportunities.