NHAI removes minimum balance requirement in wallet for FASTags
If the account balance becomes negative, the bank can recover from the security deposit, which should be replenished at the time of the user’s next recharge.
NHAI has decided to remove the mandatory, minimum balance amount required for the FASTag account or wallet, which was paid by the user over and above the security deposit for the passenger vehicle segment like car, jeeps and vans, according to an official release. Issuer banks were unilaterally mandating some threshold amount value for the FASTag account or wallet, in addition to the security deposit amount.
As a result, many FASTag users were not allowed to pass through a toll plaza, despite having sufficient balance in their FASTag account/wallet. This was resulting in unwanted hassles and avoidable delay at toll plazas, NHAI added.
It has decided that the users will now be allowed to pass through the toll plaza if the FASTag account or wallet balance is non-negative. After crossing the toll plaza, if the account balance becomes negative, the bank can recover the amount from the security deposit, which should be replenished at the time of the user’s next recharge.
With more than 2.54 crore users, FASTag contributes 80 per cent of the total toll collection. Daily toll collection through FASTag has crossed Rs. 89 crore mark, added the statement.
Payment on toll plazas through FASTag will become mandatory from 15th February 2021, National Highways Authority of India targets achieving 100 per cent cashless tolling at the toll plazas across the country.