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NHAI-promoted Indian Highways Management Company Limited (IHMCL) has inked a pact with Axis Bank for services related electronic toll collection, which the government plans to introduce pan-India.
Considering the complexities and geographical spread, the nationwide electronic toll collection (ETC) would be first of its kind in the whole world.
"IHMCL, a NHAI promoted company and Axis Bank has signed an agreement for provision of Central Clearing House (CCH) services and sale of FASTag, for Electronic Toll Collection (ETC) at the Toll Plazas on the National Highways," an official statement said today.
It said ETC system on Delhi - Mumbai stretch of the national highways will be made operational by the end of this month and a nationwide rollout will be carried out by the end of year.
Earlier this year, IHMCL had signed agreement with ICICI Bank also and it has two banks now to perform clearing and settlement of electronic toll transaction, which is a key requirement for electronic toll collection.
This is subsequent to the initiative taken by the Ministry of Road Transport & Highways, NHAI and IHMCL for implementation of unified Electronic Toll Collection on Indian national highways.
Electronic Toll Collection enables road users to pay highway tolls electronically without stopping at the toll plazas.
"The unique number of the RFID FASTag affixed on the wind shield of the vehicle will be read by the readers fitted in the dedicated 'ETC' lanes of plazas and the toll will be deducted automatically," the statement said adding this will help in reducing congestion at the toll plazas and enable seamless movement of vehicles on the national highways.
The Ministry has decided to roll out ETC programme in the country under the brand name "FASTag".
The dedicated ETC lanes will have colour coding for distinct identity recognised as "FASTag lanes".
ICICI Bank and Axis bank, engaged for providing CCH services, would distribute RFID based "FASTag" through their franchises/agents and at points of sales near the toll plazas.
Road users can enrol and get "FASTag" affixed on their vehicles at designated toll plaza locations or Point of Sale (POS) stations of Axis bank and ICICI bank.
Such type of highway tag brands are common in developed countries and are known by different names like "Eazee Pass", "SunPass" in the US, "e-Pass" in Australia, "Salik" in Dubai etc.
