National Highways Authority of India (NHAI) & Indian Highways Management Company Limited (IHMCL) have authorized NPCI for providing a composite solution on Electronic Toll Collection.
The Baroda FASTag is a simple & reusable tag based on Radio-Frequency IDentification Technology (RFID) that will be affixed on a vehicle’s windscreen. Each tag is linked to a prepaid account maintained at Bank end to facilitate instant automatic deduction of toll charges.
Bank of Baroda issues prepaid RFID tags to customers which can be recharged. Once Tags are affixed on vehicle that vehicle can pass through ETC (Electronic Toll Collection) lane at Toll Plazas without stopping and Toll charges will be automatically deducted from the account linked to Tag.
- The customer will save time and will not have to stop at Toll Plazas for Toll payment which will reduce congestion.
- Cashback of 5% for FY 2018-19.
- Transactions at Toll Plazas will be digitised
- FASTag mandatory for all new vehicals from Catagories M(motor vehicles with atleast four wheels designed and constructed for the carriage of passengers) N(Motor vehicles with atleast four wheels designed and constructed for the carriage of goods) manufactured or sold, post December 1, 2017
Benefits to Customers
- Convenience of cashless payment.
- Near non-stop motion & reduced commute time.
- Cashback of 5% for FY – 2018-19.