Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with Union Bank of India (UBI) to offer a RuPay prepaid card which will let users book train tickets and buy goods or services from the IRCTC portal. The card has been developed jointly by IRCTC, UBI and National Payment Corporation of India (NPCI). Balance limits of upto Rs 50,000 The card can be loaded with an amount convenient for the user to book railway tickets, and good and services from the IRCTC website. Every month, the first five transactions done through the card on IRCTC to buy railway tickets will be free of cost for the first 6 months. After 6 months, and after the first five free transactions, every transaction would cost Rs 10. In both, the physical and virtual cards, the partial KYC will have a limit of Rs 10,000 whereas the full KYC card will extend to Rs 50,000. Each transaction done through this card will beget reward points but IRCTC/UBI do not specify where these points can be used or to redeem what. Full KYC card holders get insurance The partial and full KYC cards will be valid for three years and once expired, users will have to apply for new cards. The virtual card will be valid only for a year, where users will need to reapply for a new card after a year. A full KYC card holder will receive a free accidental death insurance cover of Rs 2 lakh. According to IRCTC, both…
