Railway Companies in India

Why in news?

• The Rs 4,633-crore IPO of Indian Railway Finance Corporation (IRFC) got fully subscribed on the second day of the bidding process

About Indian Railway Finance Corporation (IRFC):

• Indian Railway Finance Corporation (IRFC) is a finance arm of the Indian Railways.
• It raises financial resources for expansion and running through capital markets and other borrowings.
• IRFC raises money through financial bonds and from banks and financial institutions.

Other Railway companies:

• Indian Railway Catering and Tourism Corporation (IRCTC):  It is an Indian public sector undertaking that provides ticketing, catering, and tourism services to the Indian Railways. It has been listed on the National Stock Exchange since 2019, with the Government continuing to hold majority ownership.
• Rail Vikas Nigam Limited: It is involved in building rail infrastructure required by the railways and is a 100% owned PSU of the Ministry of Railway.
• Rail India Technical and Economic Service Limited: A company with majority shares owned by government of India, it provides consultancy services in rail transport management to operators in India and abroad as also planning and consulting services for other infrastructure, including airports, ports, highways and urban planning.
• Konkan Railway Corporation Limited (KRCL) is a Union Government Company that operates Konkan Railway and also undertakes other railway-related projects.

PRELIMS QUESTION

Consider the following statements regarding railways in India:
1.India has the second largest railway network in India by size.
2.More than 90% of broad Gauge routes in India are electrified.
Which of the statements given above is/are correct?
(a)1 only
(b)2 only     
(c)Both 1 and 2
(d)Neither 1 nor 2

 Answer to Prelims Question