Now no need to pay cash at these Toll Plazas in India
National Highways Authority of India (NHAI) has decided to provide cashless payments at Toll Plazas on National Highways.
By providing FASTags to monthly pass holders, it will ensure that customers will be able to pay via their linked prepaid accounts by absorbing the one-time cost of their FASTags.
Ministry of Road Transport & Highways said in a release that a separate FASTag lane will be ensured at 48 toll plazas on Delhi – Mumbai, Mumbai-Chennai Corridors from June 20.
Point of Sale (POS) on 23 Toll Plazas are available on these corridors to facilitate purchase of FASTag.
FASTag is operational on more than 325 toll plazas on National Highways across the country, the press report said.
Government has allowed NHAI to give 10% cash back incentive on toll payments in financial year 2016-17 for FASTag users.
How does FASTag work?
FASTag has a onetime fee of Rs. 200 and is affixed on the wind screen of the vehicle.
It employs Radio Frequency Identification (RFID) technology for making toll payments directly from the pre-paid account linked to it.
These can be recharged by making payments through cheque or online through credit card/debit card/NEFT/RTGS or through net-banking.
The minimum recharge amount is Rs.100 and can be up to Rs.1.00 lac in the multiples of Rs 100.
FASTag users get SMS alerts for all their toll transactions, low balance etc.
List of Toll Plazas that have POS
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Small SIP, Big Impact: Rs 1,111 monthly SIP for 40 years, Rs 11,111 for 20 years or Rs 22,222 for 10 years, which do you think works best?
Rs 3,500 Monthly SIP for 35 years vs Rs 35,000 Monthly SIP for 16 Years: Which can give you higher corpus in long term? See calculations
07:53 PM IST