SBI partners with AISECT to roll out the electronic toll collection project

Currently, there are 370 toll plazas across the national highways where ETC facility is available

GN Bureau | December 28, 2016


#State Bank of India   #SBI   #Electronic Toll Collection   #AISECT   #FASTag  

The State Bank of India (SBI), India’s largest public lender, has partnered with Bhopal-based skill development organisation AISECT for the roll-out of its Electronic Toll Collection (ETC) project across the country.

Under the project, the bank issues SBI FASTag that is a researchable tag that allows automatic deduction of toll charges so as to allow people to pass through the toll plaza without waiting for cash transaction. The tag is fixed on the vehicle's windscreen and uses radio-frequency identification technology to connect to a prepaid account from which the requisite toll amount is deducted.

Currently, there are 370 toll plazas across the national highways where ETC facility is available.

AISECT will be responsible for the nationwide sale and recharge of SBI’s FASTag through the AISECT-SBI banking kiosks nationally.

SBI FASTag will work at all the e-toll plazas, even if a toll plaza is partnered with another bank. The National Payments Corporation of India (NPCI) will run this initiative and will be responsible for payment settlement between various banks involved in the ETC Project. The tag can be used for car, jeep, van, mini light commercial vehicle and heavy construction machinery/ earth moving equipment.

AISECT is planning to start the roll-out process within the next couple of days. The cost of the SBI FASTag will be Rs 150 and it will offer 10 percent discount for those who would pay the toll charges through ETC mode.

Moreover, the organisation will utilise its widespread network of over 23,000 Skill Knowledge Provider Centres that are located across 29 States and 3 Union Territories for the execution of the ETC Project. AISECT is also planning to set up booths at the toll plazas where their agents will execute the sale and recharge of the tags.

“In a bid to follow directives of the Government of India, we have joined hands with the State Bank of India to sell SBI FASTag through our centres across the country. It shall be our endeavor to fulfill the aspirations of the Government towards a cashless economy and we shall extend our 100% cooperation for the success of this movement,” said Anurag Gupta, Associate General Manager (Services & Financial Inclusion), AISECT.

The ETC project is being spearheaded by the National Highways Authority of India (NHAI) in order to facilitate the Digital India movement and enable seamless traffic on the national highways.

AISECT is a National Business Correspondent for SBI under the financial inclusion scheme and has established over 4,000 Banking Kiosks in rural parts of India since 2009.

 

Comments

 

Other News

From Shah Bano to Shayara Bano: How Rajiv’s blunder undid secularism

History could have repeated itself as a farce, but in the triple talaq case today, there has been no replay. A historic blunder has been undone, though it has taken three decades. The supreme court has once again taken a stance in favour of individual freedom and against fundamentalism &nda

Train passengers die as rail safety panel recommendations gather dust

 The derailment of Puri-Haridwar Kalinga Utkal express at Khatauli has once again raised serious questions on the railways’ safety claims. At least 21 people were killed and many were injured. The derailments over a period of a few months are giving sleepless nights to the top railway.

Political parties support triple talaq verdict

The BJP as well as the Congress welcomed the supreme court judgment that bars instant triple talaq for a period of six months and also seeks a legislation on it.   BJP chief Amit Shah said that he welcomes this on behalf of the party and added “it’s not about anyo

5 judges, 5 faiths, 1 verdict

Five judges from five different faiths deliberated upon and decided that instant triple talaq is to be struck down for a period of six months and the government should bring a legislation over it.   The supreme court bench was headed by chief justice of India J S Khehar, who

REC, PFC didn’t conduct appropriate due diligence: CAG

Rural Electrification Corporation Limited (REC) and Power Finance Corporation Limited (PFC) did not conduct appropriate due diligence during credit appraisal in power generation projects and in the process assumed higher risks on the loan accounts, noted the Comptroller and Auditor General (CAG) in a rep

Triple talaq verdict historic, says Modi

Prime minister Narendra Modi described as “historic” the supreme court judgment that struck down triple talaq for a period of six months.   “Judgment of the Hon`ble SC on Triple Talaq is historic. It grants equality to Muslim women and is a powerful measure



Video

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter