Curated By: Business Desk
Last Updated: December 13, 2023, 15:34 IST
Renewing your previous FASTag is necessary to stop penalties.
In February 2021, the Ministry of Road Transport and Highways introduced that the set up of a FASTag can be obligatory for all autos coping with toll plazas.
People consider that putting in a FASTag deters them from paying any penalty on the toll plazas. Even after putting in a FASTag within the car, a penalty may be imposed. Although it sounds unusual, it’s true. Some drivers have needed to pay vital penalties even after putting in a FASTag. People have complained about this problem. When the National Highway Authority of India (NHAI) investigated, the rationale got here to mild. Subsequently, the NHAI has appealed to car drivers to not make such errors.
Why is there a penalty on FASTag?
The above-talked about drawback is affecting these drivers who often use highways. When they went there for the primary time, they may have paid in toll money. Since February 2021, when FASTags grew to become obligatory, penalties are nonetheless being imposed even after having a FASTag within the car. Drivers argue and even have disputes with toll employees, who had been unable to clarify the rationale for this.
The Ministry of Road Transport and Highways launched FASTags in November 2016. After this month, FASTags grew to become obligatory for brand spanking new autos. This implies that each car is now outfitted with a FASTag on the showroom. The first transaction with FASTags began in December, 2016. So, when you purchased a car in November 2016, your FASTag is not going to work at toll plazas. Therefore, now you have to substitute it.
How to switch your previous FASTag’s stability to the brand new one?
Vehicle drivers ought to take away the previous FASTag and get a brand new one. But if the FASTag is linked to a checking account or has some stability, you must go to the respective financial institution and get one other FASTag, which ought to be put in within the car. Transfer the remaining stability from the previous FASTag to the brand new one.
Currently, the FASTag facility is offered at 2000 toll plazas throughout the nation, overlaying highways and state highways. In addition to toll plazas, parking funds are additionally being made by FASTags in numerous locations. Over 6.5 crore FASTags have been issued within the nation.
Earlier, in 2022, the whole FASTag payment assortment was recorded to be Rs 50,855 crore, registering a large improve of 46.20 p.c from 2021’s assortment of Rs 34,778 crore. In addition, the variety of FASTag transactions grew by 48 p.c as 324 crore transactions happened in 2022, whereas 219 crore transactions had been recorded in 2021.
