The Tourism Development Council Manali has approved IDFC First Bank to gather the inexperienced tax by the use of FASTag from motorists coming into town at toll plazas. The hill metropolis in Himachal Pradesh is visited by round 50 lakh vacationers each month.
The Tourism Development Council Manali and IDFC First Bank on Thursday launched the fee of inexperienced tax utilizing FASTag within the hill metropolis. It is for the primary time the automated toll assortment system shall be used to pay inexperienced tax within the nation.
It will make such funds cashless and handy for motorists in Manali, IDFC First Bank stated in a press release. So far, FASTag is getting used for fee of toll, gasoline and parking prices.
Currently, IDFC First Bank is the biggest acquirer, servicing over 400 toll plazas, and has issued about 60 lakh FASTags. And, the transactions by motorists utilizing the financial institution’s tags common about 20 lakh a day.
B Madhivanan, Chief Operating Officer of IDFC First Bank, stated India is at a brand new frontier relating to the digitization of transit-related funds He added that it’s going to make funds easier and sooner for motorists.
“We have extended the benefits of RFID technology to payments for fuel and parking using FASTag. We are pleased to partner with the Tourism Development Council Manali to introduce FASTag for the first time for payment of green tax, making it cashless.
“This will cut back stoppage time and supply motorists an easy cross-over at Manali,” Madhivanan said. Kullu Deputy Commissioner Ashutosh Garg said the introduction of the FASTag facility for green tax collection is an initiative of the district administration and TDC Manali along with IHMCL, NPCI and IDFC First Bank. It will facilitate seamless transactions, reduce human interface and save time as well as encourage digital transactions, he said. The automatic toll collection technology using FASTag was jointly launched by the National Highway Authority of India (NHAI), Indian Highways Management Company Ltd (IHMCL) and National Payments Corporation of India (NPCI) as a medium to accept toll fare across all national highway plazas.
Banks act as issuers and acquirers in this ecosystem that processes about seven million transactions a day. FASTags are accepted across all national highway toll plazas and select state highways. The latest count of active toll plazas was around 900.