Many vehicle owners often find themselves in a predicament when they forget to recharge their FASTag wallet, resulting in having to pay double the toll amount. However, there’s good news that brings relief to this situation. The Reserve Bank of India (RBI) has addressed this issue by implementing a solution where money is automatically replenished in the FASTag wallet from the account holder’s bank as soon as the balance dips below the specified limit.
This significant development was made possible through the integration of the RBI FASTag and National Common Mobility Card (NCMC) into the e-mandate framework. In a recent announcement, the RBI disclosed that both these payment instruments will now operate under the e-mandate framework, eliminating the need for constant manual top-ups by users.
According to the RBI’s statement, payments using FASTag and NCMC are not restricted to fixed time intervals; they can occur at any moment. This flexibility allows funds to be seamlessly transferred from the user’s account to these payment instruments whenever the balance reaches the predetermined threshold. As a result, users are spared the inconvenience of repeatedly adding funds manually.
Moreover, the new system enables electronic approval for payments, ensuring a hassle-free experience for users. Unlike the conventional method where payments are processed at set intervals, such as daily, weekly, or monthly, the e-mandate system only requires users to authorize a one-time debit permission. This streamlined process simplifies the payment mechanism and enhances user convenience.
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