In February this yr, the Union Ministry of Road Transport and Highways made FASTag mandatory for all cars. The government directed that each one the lanes in toll plazas at country wide highways be declared FASTag lanes. It also said that vehicles with out FASTag might should pay double the toll. The circulate turned into aimed to reduce congestion on the toll plazas.
The value of buying FASTag will range, depending at the sort of automobile and the channel wherein you're buying the FASTag from. For instance, on Paytm, you could buy FASTag on your car for Rs 500, out of which Rs 250 can be your refundable protection deposit and Rs one hundred fifty might be your wallet balance. You can recharge your FASTag virtual wallet the use of internet banking, credit score or debit playing cards and UPI. A FASTag is valid for five years from the date of buy and the recharge quantity does no longer have any extended validity length related to it.
Paytm is now making plans to release FASTag-based totally parking offerings throughout the u . S ., after it launched the first such facility with the Delhi Metro Rail Corporation in September 2021. In June, Paytm Payments Bank have become the primary bank within the usa to reap the milestone of issuing 1 crore FASTags.
According to NPCI, over 3.Forty seven crore FASTags had been issued by way of all banks collectively until the cease of June 2021.
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