National
and state highways in India are switching to FASTag services to offer maximum
convenience to travellers. Instead of wasting time and energy waiting in queues
for toll tax payments, travellers can just use FASTag for a smooth transaction.
National
Highways Authority of India (NHAI), in collaboration with the National
Electronic Toll Collection (NETC) program, has mandated the use of FASTag on
private and commercial vehicles from December 1, 2019.
The
primary goal of FASTag initiative is to save travel time and fuel through
digital payment of toll tax across India. This ensures a reduction in traffic
jams near toll booths.
FASTag: What is it?
FASTag for cars applies Radio-Frequency
Identification (RFID) to process toll tax electronically. This prevents queues
and congestion of vehicles at toll booths.
Toll
booth personnel stationed at special FASTag toll lanes process FASTags to
verify toll tax transactions. Windscreens of vehicles have FASTags which makes
it easy to process them.
How to apply for FASTag?
It
is quite easy to get FASTags since it is readily available on a Point-of-Sale
basis. Certified financial institutions extend FASTag facilities to their
customers. Individuals seeking FASTags can also avail them from certain
e-commerce platforms. One may consider the following steps to procure a valid
FASTag –
●
Activation of
FASTags by registered financial companies
An
individual has to produce relevant KYC documents, in addition to a valid driver’s
license, address proof, and registration certificate (RC) of the concerned
vehicle. Financial institutions then activate the FASTag account of the
individual.
●
Self-Activation
of FASTag account
A
traveller may download the ‘MY FASTag’ mobile app from PlayStore and submit
valid KYC documents along with the RC of the vehicle and address proof. PAN
card is compulsory for activation.
One
may choose to link the FASTag account with the financial institution of one’s
choice for future payments. However, the NHAI Prepaid wallet presents an
alternative option for toll tax payment without the need to link a financial
institution.
A
fixed charge of Rs. 100 stipulated by the National Payments Corporation of
India (NPCI) has to be paid to procure each FASTag. The charges often differ
according to different financial institutions.
How to recharge your FASTag?
As
FASTags may or may not be linked with a financial institution, the recharge
options are different. If an individual’s FASTag account is linked with a
financial company, s/he does not have to recharge at all. Maintaining
sufficient balance is the only prerequisite.
However,
a passenger can use cheques, debit cards, credit cards, UPI, or net banking to
recharge a FASTag account affiliated to a prepaid wallet.
Certain
balance limits depending on the type of account are applicable to the owners of
a FASTag car. These accounts for FASTag payments include –
- FASTag account with limited KYC
A
maximum balance of Rs.20,000 is allowed for individuals possessing limited KYC
FASTag accounts.
- FASTag account with full KYC
Individuals
with full KYC FASTag accounts are permitted a maximum limit of Rs.1 lakh.
How does this contactless digital
payment tag provide hassle-free travelling?
FASTags
offer a contactless digital payment option to individuals looking to avoid
tedious queues. This tag enables digital transactions in the quickest way,
making it one of the most innovative solutions to traffic congestion problems.
Further,
to make your road trips easier and more secure, you can consider having
respective insurance plans in place for financial protection against such
incidents.
Some NBFCs like Bajaj Finserv provide
insurance plans such as the Road Trip Protection Insurance plan under their
Pocket Insurance & Subscriptions to insure an individual against financial
losses during a road trip. Unpleasant experiences may come in the form of
vehicle breakdown or lack of cash to avail boarding facilities. This policy
insures an individual up to Rs.3 lakh for such unforeseen events. Individuals
can also purchase a weekend getaway road trip cover for a beautiful weekend
with loved ones without a scope for worry. You can even consider purchasing a child personal accident
cover insurance plan to extend specific and sufficient insurance coverage for
your child.
A large number of travellers have
benefitted from the applications of FASTags that promise to curb inconveniences
in the course of a journey.
