- AMC Sector: Growth-oriented funds lead the strong inflows in sector, says BK Securities – check key triggers
- Q1FY23 Preview: Pharmaceutical firms likely to deliver subdued performance in domestic market, says Nirmal Bang
- Chemical sector may report growth in operating profit both sequentially and YoY in Q1FY23 – Check details here
- Finance Ministry empanels 12 transaction advisers for assisting in implementation of Public Private Partnership projects
- Stock market on Monday: Market may continue its volatile trade, believes Anil Singhvi - crude, rupee movement key monitorable
NHAI to sign pacts with 3 OMCs for issuing FASTags at petrol pump outlets
The NHAI will Monday sign pacts with state-owned oil marketing companies -- IOC, BPCL and HPCL -- to ensure availability of FASTags at petrol pump outlets across India, the transport ministry said Saturday.
The NHAI will Monday sign pacts with state-owned oil marketing companies -- IOC, BPCL and HPCL -- to ensure availability of FASTags at petrol pump outlets across India, the transport ministry said Saturday. Promoted by the National Highways Authority of India (NHAI), Indian Highways Management Company (IHMCL) has been mandated to implement the National Electronic Toll Collection Programme (NETC) in the country under the brand name 'FASTag'.
"To ensure easier availability of FASTags, IHMCL is signing MoUs with state-run oil marketing companies (IOCL, BPCL and HPCL) on January 7, 2019," the ministry said, adding this will ensure availability of FASTags at petroleum outlets across India. In the first phase, the tags will be available across 50 fuel stations in Delhi NCR, which will subsequently be expanded to outlets across India, the statement said.
Currently, FASTags are being issued by certified banks only through limited channels such as point-of-sale at NH toll plazas, online, and selected bank branches, etc. FASTags are currently operational at over 450 toll plazas along the national highways and select state toll plazas. "Recent government measures like proposed FASTag?GST integration and FASTag acceptance at all Toll Plazas in India have led to an urgent need of scaling up the FASTag marketing channels. These MoUs will help IHMCL to cater to the evolving market expectations," the ministry said.
दौड़िए दिग्गजों के साथ #BSEBullRun में 13 जनवरी सुबह 6 बजे
स्थान- जेट एयरवेज बिल्डिंग के सामने, बांद्रा कुर्ला कॉम्लेक्स, मुंबई
हिस्सा लेने के लिए BULL लिखकर हमें 57575 पर SMS भेजें
या https://t.co/2lEuL4iJ3k पर रजिस्टर करें@AnilSinghviZEE @ashishchauhan @ARWealth @zareen_khan pic.twitter.com/eLKvVGxZZb
— Zee Business (@ZeeBusiness) January 4, 2019
Further, IMHCL is also planning the launch of two mobile applications - MyFASTag and IHMCLPOS. These apps will enable customers to link the FASTags with their preferred bank account, recharge the FASTag via UPI platform, and also ensure that the tags are bank neutral.
IHMCL is also striving for the vision of One Nation One Tag by aligning with various state authorities/SPV to ensure that FASTag becomes the preferred digital payment instrument at state/municipal plazas. Twenty-six toll plazas located across Maharashtra, Madhya Pradesh and Hyderabad have been already covered under the scheme, while discussions are on with other state government/agencies, it added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.