The Internet has arrived and everyone seems to be taking to it, including the Indian Railways. The Indian Railways has moved over its existing system to a 100% e-auction based model for disposal of scrap.
Bidders won’t be needing physical presence or physical bidding process any more for the auction. The department hopes that this move will improve transparency and benefit the bidder.
Indian Railways disposes nearly Rs 3500 crore worth of scrap every year and until recently the disposal process involved public auctions requiring physical presence of the purchaser for the bidding.
The e-auction system, developed in-house by the Ministry of Railways, carries out the auctions over the Internet using digital certificate(DSC) for improved security of the process.
Interested purchasers can participate in the e-auction by registering themselves at the Indian Railways E-Procurement System portal. Purchasers can make electronic payments through the portal for the bidding process. This also ensures that no cash is handled by the purchaser or the Railway’s cashier.
The e-auction model also allows purchasers from any where to bid for the different lots on the system without any geographical limitations and also avoids the involvement of middlemen in the process.
Currently there are 1200 purchasers registered for the e-auction of scrap and scrap worth more than Rs 1000 crore have been disposed off by the department through the -auction system.
Very recently, Indian Railways launched an e-commerce portal in partnership with Yebhi.com. The IRCTC online shopping portal, shop.irctc.co.in, retails in clothing, accessories, home decor and electronics.