it is in case of a failed reservation where the amount has been debited from your account and a ticket is not booked. IRCTC then refunds the amount. A payment settled status indicates that IRCTC has refunded the amount back to your banking instrument
please wait...Translate to Englishif ur booking gets f*cked up and they take ur money but u dont get a ticket, IRCTC will give u a refund. wen it says "payment settled" it means dey gave ur cash back to ur bank account.
please wait...Translate to Hindiye maij rahega jab ek reserveishan fail ho gayi hai jisme se raashi aapke account se kata gaya hai aur ek ticket book nahi hua. IRCTC phir raashi wapas kar deta hai. ek payment settled stetas yah darshata hai ki IRCTC ne raashi ko aapke banking taau par wapas kar diya hai.