Railways switch over to e-auction mode for scrap disposal

To bring more transparency in the bidding process, railways have switched over completely to e-auction system for disposal of scrap eliminating need for physical bidding by purchasers.
Railways disposes scrap worth Rs 3,500 crore every year.
Till recently, scrap disposal by the national transporter was being carried out through public auctions requiring physical presence of purchasers for bidding.
"The e-auction system has been developed in-house by the Railways where no physical presence of purchaser is required for biding," said a senior Railway Ministry official.
Electronic bidding system has been designed to enable participation in auction through internet using digital certificate (DSC) for security in the e-auction system.

"Any purchaser can participate in e-auction for scrap lots put up for auction on entire railway system by getting themselves one time registered on website www.Ireps.Gov.In," he said.

The e-auction module ensures payment process electronic and smooth for purchasers. No cash handling is required by purchasers and railways cashiers. Bidders participate in the biding process through special arrangement of lien mark instead of any cash transaction.
Bidding process is completely transparent widening the reach of the bidder for participation in various auction of different lots through internet from anywhere thus, curtaining the role of middleman.
There are about 1,200 purchasers who have got themselves registered for participation in e-auction of rail scrap and scrap materials worth more than Rs 1,000 crore have been disposed off by through e-auction till date.

The official claimed e-auction is saving time and effort both for railways and bidders, bringing in complete transparency, cost effectiveness and efficiency in disposal of scrap.