National Payments Corporation of India (NPCI) has developed the National Electronic Toll Collection (NETC) program to meet the electronic tolling requirements of the Indian market. It offers an interoperable nationwide toll payment solution including clearing house services for settlement and dispute management. Interoperability, as it applies to National Electronic Toll Collection (NETC) system, encompasses a common set of processes, business rules and technical specifications which enable a customer to use their FASTag as payment mode on any of the toll plazas irrespective of who has acquired the toll plaza.
FASTag is a new system introduced for making payment in Tollgates. It will be mandatory for paying Toll payments through FASTag soon. Initially Government of India had fixed 15-12-2019 as last date for making all the lanes of Toll Plazas into FASTag lane. But now it has been deferred.
The following data provides the NETC Product Statistics for FASTag from November 2016 to till date. As you can see the numbers has been increased linearly. Since the government has made compulsory for all vehicles to get FASTag by 15th January 2020, we predict there will drastic increase in the numbers.
|Month||No. of Banks Live on NETC||Tag Issuance (In Nos.)||Volume (In Mn)||Amount (In Cr)|