The One Nation, One Tag Scheme, is set to become mandatory on all national highways. National Payments Corporation of India (NPCI) has developed a digital system based on the National Electronic toll collection program. From now onwards, FASTag is mandatory for your car.
This scheme is not only implemented as a measure to boost digital payments throughout the country but also as an effective means to decongest highways.
What is a FASTag and how does it work?
FASTag is a passive device, affixed to a vehicle’s windscreen, which works on the principle of radio frequency identification and enables cashless toll payments without requiring the car to stop and wait. When a vehicle with a FASTag passes through a dedicated-toll plaza lane, a FASTag reader will automatically detect the tagged vehicle and charge the appropriate amount from the linked account. The driver will get intimated about the toll deduction via SMS on his/her registered number.
How can a FASTag be purchased?
New vehicles have inbuilt FASTags, and the existing vehicle owners can purchase the RFID from more than 20 NETC authorized member banks such as Syndicate Bank, Axis Bank, IDFC Bank, HDFC Bank, State Bank of India and ICICI Bank. Additionally, they are also available on the point of sales (POS) locations at selected toll plazas, NPCI website, Amazon, Paytm, and the official MyFASTag app. FASTag has a fixed price of Rs.100, but the balance in the FASTag account will differ as per the transaction rules. This FASTag will be valid for 5years.
Documents required for FASTag
If you are purchasing this FASTag from a POS, you need to provide a copy of the given documents (Keep the original documents with you while purchasing the Fastag for verification)
- Passport size photograph of the owner
- KYC document (Driving License, PAN card, Passport, Voter ID or Aadhar card)
Benefits of a FASTag
The implementation of FASTag can help alleviate numerous problems. As the whole process is electronic, there will be no need to worry about the cash; the journey will be smooth as there will be no stop and wait. The expeditious passage of vehicles through toll plazas also helps in reducing fuel consumption and ultimately curbing air pollution.
As an added incentive, motorists paying toll through FASTag at any national highway are promised a 2.5 percent cashback till March 31, 2020.