CASHe and IRCTC to launch Travel now pay later facility for ticket booked on IRCTC app

Tags: Economy/Finance

CASHe and IRCTC launch pay later facility

The Digital lending app CASHe has signed an agreement with the Indian Railways Catering and Tourism Corporation (IRCTC), to provide ’travel now pay later’ (TNPL) payment option on tickets booked on  IRCTC Rail Connect app.

Under this facility a person booking a rail ticket through IRCTC Rail Connect app can book their ticket and pay the ticket amount later in Equated Monthly Installments((EMI) of  three to six months. This facility will be available to salaried professionals.

Digital Lending and CASHe

Here the loan is not provided by the CASHe. It is a lending service provider which acts as an intermediary between the banks and NBFC regulated by RBI and the borrower. The loan will be provided by  Bhanix Finance and Investment Limited . It is a Non-Banking Financial Company (NBFC) regulated by RBI. 

CASHe is just an online platform which brings the lender and the borrower online together.

Indian Railway Catering and Tourism Corporation Ltd (IRCTC)

 It is a Central Public Sector Enterprise under the Ministry of Railways, Government of India.

IRCTC was set up on 27th September, 1999.

It’s Headquarters: New Delhi 

It is involved in the business of 

  • Catering & Hospitality at Railway station 
  • Internet Ticketing
  • Travel & Tourism
  • Packaged Drinking Water (Rail Neer)

Chairman  and Managing Director :Smt. Rajni Hasija

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