New Delhi, Oct. 29 -- Indian Railways has introduced an OTP (one-time password)-based refund by authorised railway ticketing agents of state-owned, Indian Railway Catering & Tourism Corporation Limited (IRCTC), to ensure speedy refund for passengers.

The refund amount will be applicable against cancelled or waitlisted ticket booked by around 1.7 lakh authorized agents.

"This is aimed to bring in a transparent and customer friendly refund system for reserved e-tickets which are cancelled or which are fully waitlisted dropped tickets," Indian Railways said on Tuesday, adding that the new system will be implemented by IRCTC.

"The objective of the scheme is to streamline the cancellation refund process further so that cancellation amount i...