Page 3 - Fastag

In a first, yearly transactions through UPI cross 100 billion in FY24

The year also saw a record value of Rs 199.89 trillion, compared to Rs 139.1 trillion. In February 2024, transactions stood at 12.10 billion and Rs 18.28 trillion, respectively

E-insurance, FASTag, ITR filing, medicine prices: What changes from April 1

As April 2024 begins, we enter a new financial year with significant updates impacting our finances and investments. Take a look at what changes from today

Nhai's 'One Vehicle, One FASTag' norm comes into force from April 1

State-owned National Highways Authority of India's 'One Vehicle, One FASTag' norm, which aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle, has come into force from Monday, a senior official said. NHAI had extended the 'One Vehicle, One FASTag' initiative compliance deadline to March-end, in view of the problems being faced by Paytm FASTag users. "Multiple FASTags won't work... People who have multiple FASTags for one vehicle won't be able to use all of them from today (April 1)," the official told PTI. To enhance the efficiency of the electronic toll collection system and provide seamless movement at toll plazas, the NHAI has taken the 'One Vehicle, One FASTag' initiative that aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle. Last month, the Reserve Bank of India (RBI) had advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) t

NHAI asks Paytm FASTag users to switch to another issuing bank by March 15

NHAI has advised Paytm FASTag users to obtain a new FASTag from another bank before March 15 to ensure a smooth travel experience and avoid inconvenience at toll plazas, an official statement said on Wednesday. This will help avoid penalties or double fee charges while commuting on National Highways, as per the statement. Following the Reserve Bank of India's guidelines on restrictions concerning Paytm Payments Bank, the statement said Paytm FASTag users will no longer have the option to recharge or top-up their balance after March 15, 2024. However, they can continue to use the existing balance to pay tolls beyond the stipulated date, it added. NHAI also advised Paytm FASTag users to reach out to their respective banks or refer to the FAQs provided on the IHMCL (Indian Highway Management Company Limited) website.

FASTag KYC last date today: Check how to update and documents required here

NHAI is likely to extend the 'One Vehicle, One FASTag' initiative compliance deadline to March-end

NHAI to extend 'One Vehicle, One FASTag' initiative deadline till March-end

State-owned National Highways Authority of India (NHAI) is likely to extend 'One Vehicle, One FASTag' initiative compliance deadline to March-end, in view of the problems being faced by Paytm FASTag users, a senior official said. NHAI had earlier proposed to implement 'One Vehicle, One FASTag' initiative from March 1. "In view of the Patym crisis, the FASTAg users may be given more time to shift to one vehicle-one FASTag norm," the official told PTI on condition of anonymity. To enhance the efficiency of the electronic toll collection system and provide seamless movement at toll plazas, the NHAI has taken the 'One Vehicle, One FASTag' initiative that aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle. Earlier this month, the Reserve Bank of India (RBI) had advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15. The RBI also said withdrawal or ...

Paytm Payments Bank crisis: How to deactivate Paytm FASTag and buy new one

In the recently released FAQs, the RBI suggested users procure a new FASTag issued by a bank other than Paytm Payments Bank before March 15

RBI to meet NHAI, NPCI to discuss rescue plan for Paytm PB users: Report

NPCI oversees the United Payments Interface payments, and NHAI operates the FASTag service

UPI transactions reach a record Rs 18.41 trillion in January: NPCI data

According to data shared by the National Payments Corporation of India (NPCI), January numbers were 52 per cent higher in volume compared to the same month last financial year

FASTag KYC update 2024: Things to know about documents needed for KYC

FASTag KYC online: For those customers who fail to complete the KYC today, their FASTags will become inoperative

FASTag KYC update 2024: All you know about documents needed for your KYC

After January 31, 2024, according to NHAI, banks will deactivate or blacklist all FASTags with incomplete KYC updates. FASTag accounts that are not updated will be deactivated or blacklisted

Paytm Bank: FASTag payments now available at Chennai airport parking

Digital payment brand Paytm, owned by One97 Communications, has launched FASTag payments for customers opting to park their vehicles at the Chennai International Airport. Paytm Payments Bank Ltd has partnered with Olympia Group to offer the service to customers at the facility, a press release on Tuesday said. As the vehicle passes the entry or exit, a sensor would read the radio-frequency identification (RFID) sticker pasted on the vehicle following which applicable charges would be automatically deducted from the user's Paytm Payments Bank Wallet or the respective bank account linked with FASTag enabled at the parking lots, the release said. Paytm Payments Bank said it has issued more than 1.8 crore FASTags till date, and has enabled similar services at Dehradun, Pune, and Indore airports. "The FASTag system has an efficient process for managing vehicular movement that provides a seamless experience to the passengers traveling at the airport. This is another significant step forw

FASTags with incomplete KYC to be deactivated after Jan: How to update info

FASTag, operated by the NHAI, is an electronic toll collection system in India that uses Radio Frequency Identification technology for making toll payments

No phones, cards needed, your car can pay for its fuel and Fastag directly

The service can be availed by linking the Unified Payments Interface (UPI) with the car's infotainment system, thus eliminating the need for a smartphone to make payments

42 NH projects worth Rs 10,992 cr in bidding stage; 202 projects underway

Toll collection on national highways through FASTags cross Rs 4,000 crore in the last three months, with average toll collection higher than the previous quarter and financial year at Rs 4,406 crore

Now you can use FASTag on car to pay for parking spot at Varanasi airport

Airtel Payments Bank, a FASTag issuer, has collaborated with Park+ to enable FASTag-based smart parking solution at Varanasi's Lal Bahadur Shastri Airport. The FASTag-based smart parking solution enables automatic cashless payments at airport parking, making vehicle movement in the parking zone frictionless and time efficient. The parking fee payment is deducted through the valid FASTag associated with the vehicle, a process that reduces time required to make the payment. A statement announcing the collaboration between Airtel Payments Bank and Park+ said with this, the local residents can now use the FASTag on their car to pay for a parking spot at the Varanasi airport. The two entities are working together to streamline the payment process by reducing the time spent in queues at major parking lots across the country and will soon make the service live at other city airports also. Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank said with the partnership,

UPI falls marginally in June to Rs 14.7 trn, with 9.33 transactions

Based on data from NPCI, compared to the same month last financial year, transaction volume rose by 59% and value by 45%

HC seeks Centre's response on plea asking banks to pay interest on FASTag

The Delhi High Court has sought response of the NHAI and the Centre on a plea seeking to direct banks to pay interest to the authorities on the money collected by them with the issue of FASTag and minimum balance requirement on the card. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad issued notices to the National Highways Authority of India (NHAI) and the Ministry of Road Transport and Highways (MoRT&H) on an application which pleads that with the issuing of FASTag, thousands of crores of rupees have entered the banking system without any corresponding benefit either to the commuter community or to NHAI or MoRT&H. The court granted four weeks time to the authorities to file their replies to the application and listed the matter for further hearing on August 10. The application was filed in a pending petition that challenges a rule which compels vehicles without FASTag to pay double the toll tax. The petition contended that the rule was ...

FASTag's daily collection reaches all time high of Rs 193 cr on April 29

The National Highways Authority of India (NHAI) on Tuesday said the daily toll collection through FASTag system reached an all-time high of Rs 193.15 crore on April 29, with 1.16 crore transactions recorded in a single day. NHAI in a statement further said since FASTag was mandated by the government in February 2021, the number of toll plazas under FASTag programme has increased from 770 to 1,228, including 339 state toll plazas. FASTag uses radio-frequency identification (RFID) technology, which provides users a smooth crossover at toll plazas without halting. The payment is made digitally through the FASTag linked to the bank wallet. In addition to its effectiveness in toll collection, FASTag has also facilitated seamless and secure contactless payment for parking fees at over 140 parking lots in 50+ cities across India, NHAI added. NHAI also said it is actively working towards finalizing the necessary requirements for implementation of Global Navigation Satellite System (GNSS)

Cars on highways to be offered insurance cover using Fastag soon: Report

Centre may also come up with a plan to provide third-party insurance cover for motor vehicles when they are impounded by traffic police or transport department officials