Recently Road Transport and Highways Minister Nitin Gadkari said that the country can expect to save Rs.86,000 crore annually after electronic toll collection (ETC) system. The study showed that delays at toll plazas resulted in thousands of crore worth of losses in terms of fuel wastage, while vehicle is waiting to pay toll at the collection point. The government had launched India’s first ETC program under the brand name “FASTags”.
It will also helps in reduction of air pollution along with reduced in use of paper which will directly helps to save trees.
What are FASTags ?
FASTags are radio frequency identification tags—issued by banks and affixed on a vehicle’s windscreen—that enable automatic online payments at toll plazas. They are linked to a prepaid bank accounts from which the applicable toll amount is deducted. This allows swifter passage through a dedicated FASTags lane and does away with long queues.
FASTag offers near non-stop movement of vehicles through toll plazas and the convenience of cashless payment of toll fee with nation-wide interoperable Electronic Toll Collection Services
FASTag has a validity of 5 years and after purchasing it, you only need to recharge/ top up the FASTag as per your requirement.
As of now govt. has involved 4 banks in this work namely ICICI, AXIS, IDBI and SBI. Paytm also has started this.