MoU for Fastag Sale through Petrol Pumps of Leading Oil Marketing Companies

MoU for Fastag Sale through Petrol Pumps

An MoU for sale of FASTags through petrol pumps of leading Oil Marketing Companies was signed here today between Indian Highways Management Company Limited – IMHCL and leading Oil Marketing Companies (OMCs) like BPCL, HPCL and IOCL. This will help expand the FASTag program’s distribution network which is presently active at selected bank branches.

This is a bank-neutral FASTag which can be linked to customers’ choice of bank accounts. This not only provides flexibility and convenience to the FASTag users, but is also user friendly as there will be no requirement of fulfilling KYC obligations. Two FASTag mobile apps were also launched today. The My FASTag Customer App has the distinction of real-time recharge of any FASTag through UPI, it links IHMCL FASTag with customer’s bank account and there is no need to install multiple banks applications. Wallet services are also proposed in near future. In the FASTag Point of Sales App, it is possible to create and manage distribution partners, as also to allow sales via petrol pumps.

Union Minister for Road Transport & Highways, Shipping, and Water Resources, River Development and Ganga Rejuvenation Shri Nitin Gadkari has hailed it as an attempt to enhance customer convenience through easy availability of FASTags. He said that the FASTag may also work for purchasing fuel at petrol pumps in future. Shri Gadkari said, the automobile sector has gained a lot from the leaps in the road sector. Claiming that e-tolls have enabled travelers to sail through toll plazas, he urged all State governments to implement it at their plazas as well. The Minister said, under the National Electronic Toll Collection – NETC programme, it is proposed to include all state/city toll plazas under one umbrella. NETC envisages bringing more than 500 state and municipal toll plazas within the ambit of FASTag programme, for this IHMCL is offering 50% of Capex cost for ETC infrastructure, and waiver on management fees.

Union Minister for Petroleum and Natural Gas, Skill Development and Entrepreneurship Shri Dharmendra Pradhan called upon the road and petroleum sector to join hands for a synergized future of alternative fuels. He said, both can gain business on new stretches of national highways in view of a large volume of vehicles adding up every year in the country. The Minister informed that his Ministry is working hard to bring 400 districts of the country in the city gas network within the coming two years. He said, there is need to popularize the use of CNG/LNG in transport sector, which is 20-40 percent cheaper than conventional fuel.

These measures will eventually help NHAI cater to its commitment of providing a safe, smooth and seamless journey to commuters on National Highways. The enhanced adoption of FASTag program will increase user convenience by offering seamless toll-fee payments at Plazas and thus help save time, money and fuel. The online payments will improve transparency of toll transactions, reduce revenue leakages, and improve overall efficiency and commercial competitiveness.

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