The Hindu Business Line : Federal Bank to offer rail tickets online

FEDERAL Bank on Thursday said its online banking customers can now buy railway tickets through the Internet as it has integrated its FedNet payment gateway with the Indian Railway Catering and Tourism Corporation Ltd (IRCTC) Web site.

The online railway ticket booking facility uses Federal Bank's Internet banking channel as the payment option by directly debiting the customer's account and crediting the IRCTC account instantly.

"The latest technology-enabled service will be of great convenience to a large number of our customers, especially the NRIs, who can plan their travel in India and book tickets online from anywhere in the world," said Mr Padmakumar, Chairman of Federal Bank, in a statement here.

The service, available to all the customers of the bank, is offered free. Tickets thus bought can be cancelled at any railway station in case the journey is not made.

Dealers' meet: Federal Bank hosted a two-day dealers conference here from July 12 in which dealers of various cooperative sector banks in Kerala had participated.

Inaugurating the conference Mr P. C. John, General Manager, Treasury Department, cautioned the dealers against the lacklustre trend in the security market owing to the uncertainty in the interest rates. He said that it forced the major players to desist from taking long positions. Profit booking at every possible step absorbs the available margin in the system causing severe stress in the trading activities, he said.

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