The Reserve Bank of India (RBI) has included FASTag and the National Common Mobility Card (NCMC) under the e-mandate framework.
This move means that whenever the balance in your FASTag or NCMC falls below a certain limit, funds will automatically be deducted from your linked bank account. This will eliminate the need to repeatedly recharge your FASTag, ensuring a hassle-free experience at toll plazas.
What is the E-Mandate Framework?
The e-mandate framework was introduced in 2019 to protect customers’ interests by providing them with information about debits from their accounts. Under this framework, customers do not need to provide pre-debit notifications, meaning funds will be automatically deducted from their accounts without prior notice.
New Feature for FASTag and NCMC
According to RBI, there is no fixed time for payments under FASTag and NCMC, which makes this feature very useful. Whenever the balance in your FASTag or NCMC gets low, the required funds will be automatically topped up from your bank account, allowing you to pass through toll plazas without any interruptions.
What is FASTag?
FASTag is a tag or sticker placed on the windshield of your vehicle. It works on Radio Frequency Identification (RFID) technology. When your vehicle passes through a toll plaza, the cameras there scan the tag, and the toll fee is automatically deducted from your FASTag wallet. This sticker is valid for 5 years, after which it needs to be replaced or renewed.
Frequently Asked Questions (FAQs)
1. What is an e-mandate for FASTag and NCMC?
An e-mandate is a system where funds are automatically deducted from your bank account to top up your FASTag or NCMC balance when it falls below a certain level. This eliminates the need for manual recharges.
2. Does this mean I won’t need to recharge my FASTag anymore?
Yes, with the e-mandate, whenever your FASTag balance gets low, it will be automatically recharged from your bank account, so you won’t need to manually recharge it.
3. Will I receive a pre-debit notification for FASTag and NCMC?
No, under this system, there is no need for a pre-debit notification. The funds will be deducted automatically without prior notice.
4. How long is a FASTag valid for?
A FASTag sticker is valid for 5 years. After that, you’ll need to replace it or renew its validity.
5. What is the purpose of the e-mandate framework?
The purpose of the e-mandate framework is to safeguard customers’ interests by ensuring that they are informed about debits from their accounts and to streamline recurring payments.
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