Mittal's resignation comes hours after the Kafiyat Express derailed in UP's Auraiya district early on Wednesday.
However, it is said that Mittal's resignation is the result of the back to back two rail accidents which have taken place in last four days in UP.
The new Railway Board Chairman, Ashwani Lohani has previously served as DRM in Delhi Division.
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Prabhu met prime minister Narendra Modi on Wednesday afternoon and tweeted: "Hon'ble PM has asked me to wait", an indication that he wants to step down as the railway minister.
Following the beating, Mittal reportedly submitted his resignation on Tuesday to the government which was accepted thereafter.
In terms of educational qualifications, Lohani holds the Lima Record of obtaining degrees in the four major streams of Engineering - Mechanical, Electrical, Metallurgical Engineering and Electronics & Telecommunication - from the Institution of Engineers, India.
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He said in less than three years as minister, "I have devoted my blood and sweat for the betterment of the Railways".
Seventy people were seriously injured when nine coaches of the Kaifiyat Express derailed near Auriaya in the northern state of Uttar Pradesh Wednesday morning when it collided with a dumper plying on the road adjacent to the tracks.
"I am extremely pained by the unfortunate accidents, injuries to passengers and loss of precious lives", he added.
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The derailment of Utkal Express near Muzaffarnagar on Saturday had left more than 25 passengers dead and more than 150 injured.