Indian Government, Ministry of Road and Transport now wake up as the order made a year back for fitting up the RFID tags in vehicles without adequate infrastructure. All these approximately 73 lakh vehicles manufactured over the last couple of years of no use and ministry want all these tags to be refixed or updated. These RFID tags may be enabled for cashless payment at various toll plazas.
All the company fitted RFID tags are not at use as there is no uniform infrastructure to enable the tags through banks. Government again re enabled the automobile dealers to install RFID FasTags on vehicles before it moves out of showrooms from August. These tags using the same RFID technology allow vehicles to pass through toll plazas without waiting in the queue as the payment is made electronically.
All the new fastags provided by various banks like Syndicate bank, SBI, ICICI Bank, IDFC etc. cost around Rs 200/- per tags. Owner of vehicles may approach any of these bank for refixing of Fastag on their vehicles.
There is no coordination between the NHAI and transport ministry. This results in total chaos. The push for FasTags is aimed at reducing congestion at toll plazas. Both the RFID tags installed by automobile manufacturers and the FastTags now being sold by six banks are technologically compatible. But the tags fixed by the automobile companies are virgin ones and there is no data. Hence, there is no option for top up or recharge. All these tags have to be assigned by an issuer bank, which has to give a specific serial number and then one can put advance cash in their tag.
Currently NPCI with the help of various issuer and acquirer bank pushing the Fastag in the commercial markets.
Under the new norms, the banks selling these FasTags will reach out to the automobile dealers, who will then offer buyers the option to procure the tags provided by different banks. Till now the banks have sold about 4.6 lakh FasTags across the country.