Indian Railway Catering and Tourism Corporation (IRCTC) is planning to generate revenue of Rs 1000 crore by selling huge data of customers it has. For this, the corporation has issued a tender for the appointment of a consultant. The recently floated tender said, IRCTC has a vast repository of digital data, which opens up immense possibilities for monetization.
The Corporation aspires to take advantage of this data asset to generate strong revenue growth. By monetizing this digital data, up to Rs 1000 crore can be raised. For this, it wants to hire a consulting firm that will do the work of identification, design, and development to capitalize on the opportunities of data monetization.
The corporation's move is also expected to face opposition from customers as IRCTC has extremely sensitive data like personal phone numbers, home addresses, and bank account details of customers. Customers hand over this sensitive information with the assurance that the data will not pass to any third party. If IRCTC shares this data with third parties then it will be like breaking the trust of the customers.
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