Railway Minister Ashwini Vaishnaw Launches Policy & Portal Of E-Auction For Commercial Earning | ET Now

Railway Minister Ashwini Vaishnaw launches Policy & Portal of e-auction for Commercial earning, Non-Fare Revenue (NFR) contractsBidder located anywhere in India need to register only once for participating in auctions of any field unit of Indian Railways through the portalDuring last one month Pilot, 80 earning contracts were finalized collectively fetching 128 Cr to the RailwaysRailways bring Commercial Earning and Non-Fare Revenue contracts under the ambit of electronic auction through Indian Railway e-Procurement System (IREPS)Except requirement of financial turnover, as such all the eligibility criterions have been removed. Further, financial requirement has been relaxed to the great extant. There is no financial turnover requirement for annual contracts upto Rs. 40 lacsAssets to be monetized :Parcel Van, Pay & Use Toilets, Advertisement rights on station circulating area and coaches, AC waiting rooms, Cloak rooms, Parking lots, Plastic Bottle crushers, ATMs, Station co-branding, Video screens for content on demand etc. These assets will be mapped location-wise in the portal.#RailwayMinister #IndianRailway #UnionRailwayMinister #AshwiniVaishnawRead More