Government of India is encouraging people to move towards a Cashless Economy. Cashless Economy can be achieved when the use of cash within the economy is gradually reduced and all transactions are made through electronic channels such as direct debit, credit and debit cards, electronic clearing, and payment systems such as Immediate Payment Service (IMPS), National Electronic Funds Transfer (NEFT) and Real Time Gross settlement (RTGS) in India. The advantages to citizens of a country in a Cashless Economy are:

The advantages to citizens of a country in a Cashless Economy are:

• Cash need not be carried to avail goods and services. Risk of carrying currency notes and loss of hard earned money can be avoided.
• Extra payment on account of non-availability of change is avoided resulting in payment of what is actually due to be paid. Transaction costs are likely to be reduced.
• Convenience in shopping, payment of bills and scheduling of financial transactions can all be managed from home, office or wherever you are with a smart phone.
• It helps to authenticate financial transactions and maintain proper record. A record of all economic transactions through electronic means makes it almost impossible to sustain black market or underground economies that often proves damaging to national economy.
• Digital payments indirectly reduces expenditure in reducing need for printing of currency notes and its transportation.
• Electronic transactions helps in curbing corruption and black money flow, thereby helping in economic growth of the country.
• Lesser use of cash checks the grey economy, prevents money laundering and better tax compliance.
• Increased tax base would result in greater revenue for state and greater amount available to fund the welfare programmes of the Government.

Indian Railways offers cashless ticketing option to its customer through internet ticketing on IRCTC website for booking reserved tickets. More than 58% of the train accommodation is reserved through e-ticketing. IRCTC also provides option for purchasing Season Tickets for suburban train services on Western and central Railways. Facility for purchasing unreserved tickets through mobile phone is available at DELHI, Mumbai, Chennai, Kolkata and Secunderabad. Further Automatic Ticket Vending Machines dispensing unreserved tickets using smart cards are provided at over 1000 locations over CR, ER, ECoR, NR, NER, NWR, SR, SCR, SER, SECR, SWR, WR and WCR. The Smart Cards can be purchased from nominated counters at the stations.

Indian Railways seeks your cooperation and support in helping the Government and Nation in creating a cashless economy.