NEW DELHI: A last-minute change in plans will cost you dearly, as the Railways has announced a revised rule linking refunds to the timing of ticket cancellations. Passengers who cancel their tickets less than eight hours before departure will receive no refund, while cancellations made between eight and 24 hours before departure will result in a 50% deduction.Railway minister Ashwini Vaishnaw said on Tuesday that under the new norm, there would be 25% deduction for tickets cancelled between 24 and 72 hours before the train’s departure. The new rules will take effect between April 1 and 15.At present, passengers get no refund for cancelling a ticket within four hours and 50% deduction happens for tickets cancelled within 4-12 hours. Similarly, 25% is deducted for tickets cancelled within 12-48 hours.Vaishnaw said the tighter refund norms came in the light of touts selling tickets on the black market, taking advantage of the provision of last-minute cancellation. The minister also announced that passengers who had booked online tickets would be able to change their boarding point 30 minutes before scheduled departure. Vaishnaw announced reforms in contracting norms as well. Railways will assess the capacity of contractors bidding for all projects above Rs 10 crore. He said contractors must carry out work for 60% of the price under their own supervision and sub-contracting is allowed up to 40%.