The Reserve Bank of India (RBI) has made significant changes to its e-mandate framework for FASTag and the National Common Mobility Card (NCMC). Under this new change, the facility of automatic recharge has been introduced in case of a shortage of money in FASTag and NCMC. This will now eliminate the worry of recharging FASTag again and again and the process will be completely automated.
Features of the new rules
- Automated recharge: When there is less money in your FASTag or NCMC account, your bank linked to the account will automatically transfer the money. For this, you will not need to recharge again and again.
- Time-saving: With the implementation of this facility, the time taken in recharging will be saved, so that users will not have to stop at the toll plaza or stand in long lines.
- Convenience and less hassle: The recharge process will now be fully automated, which will free users from the worry of running out of recharge.
How will the new system work?
- Facility activation: Users can activate this facility by contacting their bank or FASTag service provider.
- Recharge amount and period: Users can decide the recharge amount and period at their convenience.
- Automatic transfer: There will be an automatic transfer from the bank account when the money in the card is low.
Significance and impact
This move of RBI will prove to be a big relief for FASTag and NCMC users. It will promote digital payments and make the process of paying toll tax even simpler. Apart from this, it will make highway travel more convenient, saving time and reducing hassle.
Conclusion
RBI’s new decision is a positive change for FASTag and NCMC users, which will improve their travel experience. The automatic recharge facility will not only provide convenience and save time but will also encourage digital transactions.