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Fastags To Facilitate Fuel Buying; IDFC First Bank To Offer Such Cards

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In a major step, Fastags that until now served to make toll payments on the highway will also enable you to buy fuel. And in a first, IDFC First Bank has got the central bank's approval in this regard.

While the name for such a card is being thought over, internally it is being referred as Fastag version 2.0.

Fastags To Facilitate Fuel Buying; IDFC First Bank To Offer Such Cards
 

It is to be noted that truck drivers on the highways need to carry cash primarily for two expenses namely toll payment and for refueling their vehicle. And after the move, cashless transactions will further be promoted by the government on the national highway. It is to be noted that from December, in toll plazas, except one should be accepting digital payments.

Also, Fastags shall be the common payment mode for all of the transactions including parking charges.

Currently, in all 22 banks issue such Fastags. Also, there is a proposal being considered to link Fastag with GSTN and impart it as a unique identity in case of vehicles.

GoodReturns.in

Read more about: highways gstn cashless economy
Story first published: Wednesday, July 31, 2019, 11:07 [IST]
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