NHAI to issue green bonds worth Rs 1,000 crore
The National Highways Authority of India (NHAI) will issue green bonds worth Rs 1,000 crore to raise funds for the implementation of environment-friendly measures such as solar lighting
In order to increase the FASTag penetration to ensure seamless movement of traffic and to reduce avoidable delays at the toll plazas, NHAI has decided to remove the mandatory threshold amount for the FASTag account/wallet, which was paid by the user in addition to the security deposit for the passenger segment (Car/Jeep/Van).
Issuer banks were unilaterally mandating some threshold amount value for the FASTag account/wallet, in addition to the security deposit amount. As a result, many FASTag users were not allowed to pass through a toll plaza, in spite of having sufficient balance in their FASTag account/wallet. This was resulting in unwanted hassles and avoidable delay at toll plazas.
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It has been decided that the users will now be allowed to pass through the toll plaza if the FASTag account/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 next recharge by the user.
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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.
As payment on toll plazas through FASTag will become mandatory from 15 February 2021, National Highways Authority of India is targeting to achieve 100% cashless tolling at the toll plazas across the country.
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