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What does “RAC” and “WL” availability status mean?

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What does “RAC” and “WL” availability status mean?

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RAC or Reservation Against Cancellation means that you have an assured seat but your seat number has not been allocated yet. Once other people cancel their ticket you will be assigned a seat number. If you are holding an RAC ticket, you can always board the train as there are always some unallocated seats in the train. RAC tickets are sold after general category tickets are over. A Waitlist (WL) is started after the designated quota for R.A.C. is exhausted.

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