IRCTC Data Monetization Tender: IRCTC, a division of Indian Railways, has released a fresh tender. The purpose of the tender is to make money off of user data. IRCTC has created a plan to make $1 billion with this. People are now wondering if the IRCTC will sell their data to outside parties. Tell us more about this situation in detail.
The share price of IRCTC (Indian Railway Catering and Tourism Corporation) increased by 4% on the morning of August 19. The IRCTC shares quickly rose from their opening price of Rs. 712 on the BSE on Friday to Rs. 746.75. The company’s new strategy is what has caused the share price of IRCTC to increase.
The Indian Railways’ ticketing division reportedly has a Rs 1000 crore revenue target for digital monetization. For this, IRCTC has also released a tender. There are some such items in this tender that are causing users to have concerns about their safety and privacy.
A lot of information on this has been disseminated by the Internet Freedom Foundation. According to the tender, IRCTC will hire a consultant to make suggestions about how to make money off of user data.
IRCTC users have more than 100TB of user data. This contains all the information needed to book the ticket, including the person’s name and phone number. Many people believe that the government is trying to sell their personal information in order to make money in this situation.
Will the government market my personal information?
It’s challenging to say yes or no. You must fully comprehend it. The business will never cede control of this information. That is, IRCTC will never sell your data or its 100TB of data. It is the case, at least based on the information we have so far.
Because they will only profit once from this. Instead, his strategy goes beyond that. The business will occasionally use this data to generate revenue. Take riding a train as an illustration.
You now order food using e-catering in this circumstance. You might start receiving notifications from some e-catering businesses where you can order food for yourself the next time you travel.
Another illustration is calling a cab. You currently book train tickets through IRCTC. You will then need to take a taxi to get home from your destination station. Some people must have taken it because not everyone would have. After some time, it’s possible that you’ll start receiving calls or suggestions for cabs as soon as you arrive at the station.
What is IRCTC’s strategy?
It is unclear at this time how IRCTC will use these data. According to the business, doing this will enhance the user experience. By disclosing data to outside parties, it will also generate revenue.
The privacy of the users is something that the IFF (Internet Freedom Foundation) and others are worried about in this situation. In the event that there is no data protection law, how will IRCTC share this information with third-party vendors?
IFF previously sent the government a letter with regards to the vehicle database. The Internet Freedom Foundation is concerned about the possible misuse of user data.
Read More : IRCTC Refund Rules: Before canceling the confirmed railway ticket, know how much you will get refund!
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