Narasimha Rao tenure from 1991-96 and is credited with ushering in the unigauge system in the Railways, has seen marginalised in the party for the past decade.
Sharief was only recently acquitted by the Supreme Court in a CBI case launched against him.
George Fernandes, who was at the helm of Railways during the V P Singh Government in 1989-90, is unwell.
A JD-U member of the Rajya Sabha, Fernandes has been away from Parliament for quite sometime.
Congress leader and Union Minister C P Joshi's joy last year after getting the additional charge of Railways, was shortlived.
In the last Cabinet reshuffle, Bansal was brought in as full-fledged Railway Minister with Prime Minister Manmohan Singh determined to bring the long delayed reforms in the Railways to bring it on track at a time when the buzz word is infrastructure development for faster growth.