Have you read these stories?

Sachin Bansal is betting his Flipkart fortune on banks

Bansal, through his microfinance firm Chaitanya India, has applied for a banking licence.
The Economic Times

SEARCHED FOR:

FASTAGS

Now, cash recharge option for FASTags

The government will roll out the option of cash recharge for FASTags to accelerate its adoption.

FASTag mandatory now. Here are banks' customer care numbers for help

FASTags are currently issued by 23 certified banks through various chann...

Mandatory FASTag rule relaxed for 65 toll plazas on National Highways citing high cash transactions

This comes after NHAI raised ‘concerns’ r...

ET Prime Distribution
  • The highest daily toll collection via electronic system of FASTags has also been recorded at Rs 50 crore (single day collection) in January 2020 as compared to Rs 23 crore in November 2019.

    The expansion would also involve tie-ups with leading car makers Maruti Suzuki, Hyundai, Honda, Kia, and MG Motor, offering pre-fitted Paytm FASTags at the time of vehicle purchase.

    With the compulsory implementation of FASTag fast approaching, commuters heading to Kempegowda International Airport (KIA) are scared to use it. They have complained about paying 'double toll'.

    Reserve Bank of India said that it’ll allow customers to link their FASTag accounts with all authorised modes of payments.

    About 6.4 crore transactions FASTag transactions worth Rs.1256 crore was processed in December as against 3.4 crore transactions worth Rs.774 crore in November, the latest National Payments Corporation of India (NPCI) data released on Wednesday showed. A total of three crore 3.1 crore transactions worth Rs.703 crore in October was processed.

    "Over 1.15 crore FASTags have already been issued, with more than one lakh being issued every day," the Ministry of Road Transport & Highways said. The daily transactional value has crossed Rs 52 crore with the number of FASTag payments surpassing 30 lakh. A FASTag provides smooth journey to commuters through toll plazas on national highways.

    Reserve Bank of India said that it’ll allow customers to link their FASTag accounts with all authorised modes of payments.

    During the assessment of highways, NHAI will look at the duration of traffic jams on highway stretches, the way-side amenities available and tow-away facilities in case of vehicle breakdown. Depending on the observations from the exercise, changes and improved practices will be incorporated in the design stage itself.

    While the authority has already mandated implementation of FASTag on toll plazas and conversion of cash toll lanes to FASTag lanes, the speed breakers or rumble strips constructed at toll plazas are being removed with immediate effect for smooth vehicular movement.

    Any BHIM UPI-enabled mobile app would now give vehicle owners the opportunity to recharge their FASTags on the go and avoid queues at toll plazas, NCPI said in a release.

    FASTags affixed on vehicle windscreens would enable toll to be debited from a linked account.

    The number of transactions through FASTag has increased to 20 lakh per day and once this figure increases further, there will be savings worth over Rs 1,000 crore in terms of fuel wastage, loss of man hour and congestion.

Load More...
x

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service