NHAI to Sign Pacts With IOC, BPCL and HPCL for Issuing FASTags at Petrol Pumps

Marquisto

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posted on 5 years ago — updated on 1 second ago

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Promoted by the NHAI, IHMCL has been mandated to implement the NETC in India under the brand name 'FASTag'.

The NHAI will sign pacts with state-owned oil marketing companies -- IOC, BPCL and HPCL -- to ensure availability of FASTags at petrol pump outlets across India, the transport ministry said earlier. Promoted by the National Highways Authority of India (NHAI), Indian Highways Management Company (IHMCL) has been mandated to implement the National Electronic Toll Collection Programme (NETC) in the country under the brand name 'FASTag'.

"To ensure easier availability of FASTags, IHMCL is signing MoUs with state-run oil marketing companies (IOCL, BPCL and HPCL) on January 7, 2019," the ministry said, adding this will ensure availability of FASTags at petroleum outlets across India. In the first phase, the tags will be available across 50 fuel stations in Delhi NCR, which will subsequently be expanded to outlets across India, the statement said.

Currently, FASTags are being issued by certified banks only through limited channels such as point-of-sale at NH toll plazas, online, and selected bank branches, etc. FASTags are currently operational at over 450 toll plazas along the national highways and select state toll plazas.

"Recent government measures like proposed FASTag GST integration and FASTag acceptance at all Toll Plazas in India have led to an urgent need of scaling up the FASTag marketing channels. These MoUs will help IHMCL to cater to the evolving market expectations," the ministry said.

Further, IMHCL is also planning the launch of two mobile applications - MyFASTag and IHMCLPOS. These apps will enable customers to link the FASTags with their preferred bank account, recharge the FASTag via UPI platform, and also ensure that the tags are bank neutral.

IHMCL is also striving for the vision of One NationOne Tag by aligning with various state authorities/SPV to ensure that FASTag becomes the preferred digital payment instrument at state/municipal plazas. Twenty-six toll plazas located across Maharashtra, Madhya Pradesh and Hyderabad have been already covered under the scheme, while discussions are on with other state government/agencies, it added.