Fastags are soon expected to be mandatory for old and new vehicles. At the moment, a Fastag can only be used to pay tolls on the highways in India. This could, however, change in the coming few days as RBI has approved IDFC First Bank to be the first institution to use Fastags at fuel pumps.
According to HBL, the new Fastag in question is internally known as the Fastag version 2.0. This is expected to create a seamless way for the highway users to pay for the services. The current Fastags have been mandated by the government where all vehicles are expected to have one before December 1. The use of Fastags is aimed at reducing the dependency on cash and save time at toll booths on highways. There are more than 450 toll plazas on the National Highways in India that operate under agencies such as NHAI, IHMCL and others.
Comments
0 comment