IRCTC digital data monetisation plan: The Parliamentary Committee on Information Technology has summoned the Indian Railway Catering and Tourism Corporation (IRCTC). The panel has asked the company officials to brief it about the data monetisation plan. The briefing will take place on Friday, August 26, at 5:15 pm. 

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The development comes amidst concerns over the security and privacy of passengers' data as the company plans to raise additional revenue of Rs 1000 crore from the monetisation of data assets.

According to a Zee Business channel report, IRCTC will show a presentation on data privacy and data security to the panel. 

Zee Business Managing Editor Anil Singhvi said that the government should hold such meetings with private companies too. He said that IRCTC is a government company, but the government should also keep an eye on the rest of the companies that sell data.

IRCTC in a notification on August 18 had floated an e-tender for the appointment of a consultant for digital data monetisation. “IRCTC is a reservoir of a huge amount of digital data which opens several opportunities for monetisation,” the notification said.

IRCTC in its objective section of notification said that it has plans to leverage the data assets to increase revenue as well as improve customer experience. The company aims to generate Rs 1,000 crore from the monetisation of its data assets.

The last date for tender submission is August 29. Bidders will have to deposit an Earnest Money Deposit (EMD) of Rs 2 lakhs.  

The company had said it wishes to engage a consulting firm to study, analyse and review all data related to public-facing and vendor applications, websites of all Indian Railways, PSUs & other units to provide a road map, effective monetisation business strategies for monetisation of digital data.