Deadline to 26 Banks for Enabling OTP

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While paying for online e-ticket booking there are many banks that does not prompt for OTP during the transaction and the payment is made just by the card or account details. This is very important security concern. So, taking the security of transaction in issue Indian Railway Catering and Tourism Corporation has proposed banks
should enable OTP by 15th Of August and make the transactions more hassle free.

irctc asks bank to introduce otp system

As per the data IRCTC has partnered with 50 banks for the payments of online e-tickets but only 24 of these banks have a more advanced security that is OTP system, while the other 26 have no option of OTP or have not introduced this system yet.

IRCTC chairman and managing director AK Manocha said that after having a meeting with the representatives of the banks, it is decided that the deadline will be 15th of August and every bank should abide by this rule to make things secure  and easy for users.

IRCTC, a ‘mini Ratna’ PSU of the Indian Railways, has been accepting grievances from clients as well as from the Crime Branch in regards to deceitful transactions completed on its online ticket booking portal.

Every such bank which are yet to give a bother free OTP system, have been implied by messages and letters to take restorative measures before the expiry of the due date, he included.

M. Srinivas MS, Addl GM (Software), IRCTC, said the e-ticketing entryway has game plans for exchanges with 50 banks — 28 for Net managing an account, six for Payment Gateways (PGs), 10 for Debit Card and for Cash Card, while one each is EMI-based and an IRCTC Prepaid Card. Every one of the banks gather administration charges for e-ticket exchanges.

“The majority of the banks/PGs/Cash Cards/EMI-based cards have the OTP office for online exchanges. Consequently, it is basic for them to actualise it for all IRCTC exchanges, including e-ticketing and web shopping,” he said, including: “To maintain a strategic distance from deceitful exchanges, we have to execute OTP for all exchanges on our site. There ought to be a uniform strategy.”

“This likewise puts forth an in number defence for banks to present the OTP system at the most earliest,” he said, including: “This is additionally in consonance with the RBI rules.”

“The widespread use of OTP is unrealistic to have an unfriendly impact on the IRCTC’s Passenger Reservation System (PRS). Then again, touting exercises, for example, cornering of e-tickets and utilization of robotized instruments for booking e-tickets will be limited,” he said

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