The National Highways Authority of India (NHAI) is all set to make cashless payment mechanism—FASTag—operational at 275 toll plazas from Monday, making the passengers able to zip through toll plazas across the country.
FASTag will offer near non-stop movement of vehicles through toll plazas and convenience of cashless payments of toll-fee with nationwide interoperable electronic toll collection services. India currently has 350 toll plazas. FASTag will become operational at the remaining toll plazas within a year.
NHAI will be giving 10 per cent cashback incentive on toll payments for FASTag users. The cashback amount for a particular month will be credited back to the FASTag account at the beginning of the next month.
According to a Transport Corporation of India and IIM-Kolkata study, Rs 60,000 crore was lost as a result of various delays at check posts
NHAI has tied up with ICICI bank and Axis Bank for the service. FASTag has a onetime fee of Rs.200 and is affixed on the wind screen of the vehicle. It employs RFID technology for making toll payments directly from the pre-paid account linked to it.
FASTag will be available on sale from selected toll plazas on national highways and designated branches of participating banks. These can be recharged by making payments through cheque or online. The minimum recharge amount is Rs100 and can be up to Rs.1 lakh for commercial vehicles.