Business Standard

Sunday, January 12, 2025 | 08:57 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

RIL, ICICI Bank and L&T Finance among big names rolling out FASTag

The most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips

The National Highways Authority of India introduced FASTags that uses radio frequency identification technology and allows cars to pass tolls without stopping for payment
Premium

Subhomoy Bhattacharjee New Delhi
There are big names among shareholders of Indian Highway Management Company (IHMCL) tasked with rolling out FASTags or, universal e-tolling, on Indian roads. It includes Reliance Industries (RIL), ICICI Bank, and L&T Finance. They are among entities to have picked up stakes, albeit puny, in the company floated by the National Highways Authority of India (NHAI) in 2012 as a joint venture.

As India plans to migrate toll payments on highways to an electronic platform, the interest shown by these firms highlights the business potential. IHMCL was established as a three-way collaboration between NHAI with banks and leading road concessionaires in

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in