Kochi, Mar 23: Hassle-free passage of vehicles through the toll plazas is set to become a reality with the introduction of Radio Frequency Identification (RFID)-enabled technology that provides special stickers to the vehicles and separate queues for them at toll booths.
Introduced by the National Highways Authority of India (NHAI) and RBI’s National Payment Cooperation of India (NPCI), FASTag has received tremendous response at Kerala’s first-ever two-day Global Digital Summit, #FUTURE, which began at Le Meridien, Kochi today. Federal Bank has opened a stall at the venue.
As of now, major banks, including Federal Bank, ICICI, State Bank of India and Axis Bank are issuing the sticker facility as there are stringent norms to follow.
The RFID-enabled technology saves time and rush at toll booths as there are separate queues for the vehicles with FASTag through which they can pass without stopping for cash transactions. The user has to paste the sticker on the top middle portion of the windshield from inside the vehicle (behind the rearview mirror), adhesive side facing out.
“In Kerala, FAStags can be used at the busy Walayar (Palakkad), Paliyekkara (Thrissur) and Aroor (Ernakulam) toll plazas. Normally, a vehicle would take around 15-20 minutes would take to pass through these toll booths. All over India, this technology has been implemented in 397 toll booths,” said Jithesh P V, Digital Head, Federal Bank, Aluva.
Once the vehicle enters the toll booth, the RFID reader tool identifies it and automatically deducts the money from the owner’s account. This card is rechargeable like Paytm.
Users can visit the Federal Bank’s website to recharge. “There is a 7.5% cashback on offer, and it is available until March 31. It may be extended by the government,” he said.
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