The Ministry of Road Transport and Highways no longer wants to limit FASTag to toll collection only. The ministry wants FASTag to be used for services like charging electric vehicles, parking, and insurance payments. This will not only increase convenience for the general public but will also bring transparency and efficiency to the digital transportation system. This will give a new dimension to India’s Digital India Mission.
Important meeting on new use of FASTag
Indian Highways and Management Company Limited (IHMCL), which works under the National Highway Authority of India (NHAI), held an important meeting with Fintech Companies. During this meeting, the potential new applications of the FASTag System were discussed in detail. In the meeting, suggestions were received regarding rules and regulations, security, user feedback, and complaints related to the use of Fastag in areas other than tolls. This discussion is a big step towards developing Fastag as a multi-purpose digital payment tool.
Parking, insurance, and EV charging are now also possible with Fastag
The ministry wants to develop Fastag as a multi-purpose digital payment tool. With its help, people will be able to easily pay parking fees, electric vehicle charging, and vehicle insurance. This change can prove to be very convenient for the general public.
In the meeting, fintech companies were also told about MLFF i.e. Multi-Lane Free Flow Tolling System. With this technology, vehicles will be able to pass through the toll booth without stopping. With the help of an RFID reader and ANPR cameras, the fasting and vehicle number will be scanned and the toll will be deducted automatically. This will eliminate the jams at the toll plaza, which will save time and fuel for the passengers.
A great collection is being done through Fastag
The performance of toll collection through Fastag in India has been quite impressive. The National Electronic Toll Collection (NETC) program is currently applicable on 1728 toll plazas, which include 1113 National Highways and 615 State Highways. 98.5% of the total toll collection is paid through Fastag, which shows its wide acceptance and efficiency. So far, more than 11.04 crore FASTags have been issued in India, and more than 38 banks have distributed them. This figure highlights the success of Fastag and its role in digital payments.
Nitin Gadkari’s big statement
Union Road Transport Minister Nitin Gadkari has said that the “FASTag system has unlimited potential.” He said that it can become a means of uninterrupted travel not only for toll but also across the country. According to Gadkari, the government wants to turn Fastag into a universal platform in collaboration with fintech companies, so that people get digital facilities in every sector. This is a big vision that will change the way we make payments in the future.
Transparency and speed will come in the transport sector.
The increasing use of Fastag will provide technology-based solutions in the transport and mobility sector. This will not only improve the passenger experience but will also promote jobs, investment, and innovation in the transport sector. When everything is digital, the chances of fraud and corruption will be reduced, which will increase transparency in the entire system.
Digital India Mission will get a boost
The implementation of Fastag in many areas will also give impetus to the Digital India Mission. A platform will be created through which people across the country will be able to use many services with a single tool. This will not only promote cashless transactions but will also make the transparency and tracking of the system easier. It will help in building a safe and convenient digital ecosystem.