Latest news with #Fastag
Time of India
6 days ago
- Time of India
Samruddhi may divert toll from older state highways
Mumbai: Starting Aug 15, a new Fastag pass priced at Rs 3,000 annually (or 200 trips, whichever is earlier) will be available for motorists using national highways. Experts suggest that the scheme could attract a large number of regular travellers, as the rate will average out to around Rs 15 per trip — over five times lower than current toll charges on many highways. While this may boost one-time revenue collections and encourage more frequent long-distance travel, it is also expected to reduce ongoing toll income on national highways under the National Highways Authority of India (NHAI). The scheme will not apply to major state highways like Mumbai-Pune Expressway or Samruddhi Mahamarg, which are managed by state agencies. A senior state official said the Samruddhi corridor has opened up access to tourist attractions in Vidarbha and industrial zones, spurring increased travel across the region. Besides Mumbai-Pune Expressway and Samruddhi —the state's top two toll-generating highways—other major revenue-earning highways in the state include: Pune-Satara-Kagal Highway (Pune-Bangalore stretch), Old Mumbai-Nashik Highway, and Mumbai-Ahmedabad (Maharashtra section) Highway. Samruddhi may divert traffic —and toll revenue —from the older Mumbai-Nashik highway, thanks to its superior speed and efficiency, despite slightly higher toll charges. Goa highway remains Maharashtra's most delayed four-laning project. Due to incomplete expansion and public opposition in Konkan, no toll is currently being collected on this route. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai A senior toll expert with the state govt said there is a need to align toll rates with hedging costs to attract foreign investment for road infrastructure. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
26-07-2025
- Time of India
CID chases HCA secretary through seven states; arrests him from Pune
Hyderabad: After a 17-day chase across seven days, the Telangana Crime Investigation Department (CID) finally arrested R Devraj, secretary of the Hyderabad Cricket Association (HCA), from a star hotel in Pune early on Friday. He is a key accused in the alleged misappropriation of HCA funds and forgery case, along with five others. Devraj was produced before a magistrate at Malkajgiri court and has been sent to 14-day judicial remand. The 63-year-old had been on the run since July 9, when the CID arrested HCA president A Jagan Mohan Rao, club CEO Suneel Kante, treasurer CJ Srinivas Rao, and two top executives of the Hyderabad-based Sri Chakra Cricket Club — G Kavita and her husband Rajender Yadav — in connection with the same case. However, by the time the CID team reached Devraj's house, he had already fled. Initially, the CID tracked his last known location to Keesara along the Outer Ring Road and sought help from the Rachakonda police to apprehend him. However, the attempt was unsuccessful. The team then began monitoring the suspect's vehicle number and the phones of his possible accomplices. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "A driver and a friend were accompanying Devraj, but they too had kept their phones switched off most of the time, making it difficult to track him," said a CID official, adding that six special teams worked on tracking Devraj. The investigation picked up after the suspect's vehicle was traced to Bhadrachalam. Senior CID officers contacted their counterparts to obtain toll plaza data. An alert later indicated that the suspect had entered Yanam, about 240 km from Bhadrachalam, but by the time the team arrived, the vehicle had already left. Devraj's car was later tracked through Visakhapatnam, Nellore and Tirupati in Andhra Pradesh, and then to Kanchipuram and Ooty in Tamil Nadu, before entering Bengaluru. "In Anantapur, the accused switched to a different vehicle, but we managed to identify the new vehicle registration number too," the CID investigator said. "From Karnataka, the vehicle proceeded to Goa, and from there, they started travelling towards Solapur in Maharashtra." The official added that local police of all states extended their cooperation, as there was constant interstate coordination among senior officers. "By this time, we had gathered information through Fastag, toll plaza data, and the suspect's phone conversations to realise that he, along with his accomplices, were travelling during the day and staying at hotels at night. There was a clear pattern — they were only staying at three-star or higher-rated hotels," said the investigator. When the accused moved from Solapur to Pune, the local CID team took an early morning flight and reached the city around 1.30 am on Friday. "From Pune airport, our team went to a three-star hotel on the Pune-Hyderabad highway, verified hotel records and nabbed Devraj from his room at around 4 am," the official added. After informing the local Pune police, the CID team brought him to Hyderabad later on Friday. "We produced him before the magistrate for judicial remand," confirmed CID SP, S Srinivas, in an official statement.
Time of India
21-07-2025
- Business
- Time of India
No wider adoption: Why Fastag's growth beyond toll payments is limited
The Fastag system faces challenges with inadequate bank-based customer support. Fastag may be used for toll payments pan India but its adoption for wider use cases still remains severely limited. The electronic toll collection system has shown negligible growth in the last fiscal year. The system's growth, including transaction volumes and participating banks, has remained largely static. According to National Payments Corporation of India statistics, Fastag processes between 350-380 million monthly transactions, maintaining consistent levels since January 2024. The monetary settlements have remained within Rs 6,000 to Rs 6,500 crore during this period. The number of banks offering Fastag services has stayed at 38, unchanged since May 2023. UPI , the leading digital payment platform, has expanded its network to include 675 participating banks, showing significant growth from 445 banks in May 2023. Industry experts point to the limited application of Fastag beyond toll collection as a primary reason for its stalled progress. Also Read | FASTag annual pass: How to purchase, validity, cost, trip limit & more - Top 15 FAQs answered "Toll payments are undertaken by consumers only that many times in a month or a year, and even for commercial vehicles, almost the entire base has been already covered, and the sector is also not growing exponentially," said a top executive at a digital payments firm which processes Fastag payments. "Overall, the payment method has stagnated at a certain level, the executive said according to an ET report. Why is Fastag growth stalled? Initially designed for digital toll collection on highways, Fastag's intended scope included various vehicle-related payments, including fuel purchases and parking fees. Fastag growth stalled "While a limited number of large commercial properties like shopping malls have started using Fastag as a payment method for their parking fees, fuel has shown almost no adoption," said the founder of a fintech startup offering this service. Smaller commercial properties have been reluctant to implement Fastag systems due to substantial costs associated with installing compatible gates and tag readers. "A large mall might be processing around Rs 30 to 40 lakh in parking payments per month, for that, the installation and maintenance might be a bit cumbersome," the founder added. The installation expense for each gate is estimated to be between Rs 1.5 to 2 lakh, with additional upkeep costs to be considered. "There is no margin to be made on fuel payments, hence that use case is also not picking up," said the executive of a digital payments firm cited above. Also Read | FASTag-based Annual Pass announced! Nitin Gadkari says new pass to have fee of Rs 3,000 - details here In India, kerbside parking remains predominantly cash-based or QR code-dependent, with no significant movement towards Fastag adoption, despite being the country's most common parking method. Financial industry experts indicate that fintech companies' disappointment with digital payment revenue generation has deterred private enterprises from new payment ventures. The growth in UPI adoption was primarily driven by substantial marketing investments that provided customer incentives. "No new-age fintech is pumping funds into digital payments right now. Fastag and such payment methods needed incentives to get more customers to use them readily, in the absence of incentives new use-cases are not building up," said the founder of a digital payments startup. The Fastag system faces challenges with inadequate bank-based customer support, particularly regarding blocked tags and top-up difficulties. Despite distributors like PhonePe and Amazon Pay being involved, they depend on banks for customer service, which often fails to meet user expectations. "Banks make money on the float they get through these payments, otherwise there is hardly any incentive for others to offer superior customer experience," said the founder cited above. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
21-07-2025
- Automotive
- Time of India
Fewer use cases take toll on Fastag growth
Fastag, the modern electronic payment system for vehicle owners and the entire travel ecosystem, is stagnating, with almost negligible growth in the last financial year. Even the number of transactions and banks going live on the payment method remained sluggish during the year. Lack of evolution of new use cases for Fastag, beyond toll payments, is one of the key factors hindering its growth, said people in the know. 'Toll payments are undertaken by consumers only that many times in a month or a year, and even for commercial vehicles, almost the entire base has been already covered, and the sector is also not growing exponentially,' said a top executive at a digital payments firm which processes Fastag payments. 'Overall, the payment method has stagnated at a certain level.' Data shared by the National Payments Corporation of India , which powers settlements on Fastag, showed 350-380 million transactions are processed on Fastag every month, which has stayed constant since January 2024. In terms of fund settlement, it has hovered between Rs 6,000 and Rs 6,500 crore in the same period. Around 38 banks are currently active on Fastag, unchanged since May 2023. While payment methods are not directly comparable, for context, Unified Payments Interface (UPI), the most popular digital payment method, currently has 675 banks live on the platform. In May 2023, there were 445 banks. While Fastag was initiated with the aim of digitising highway tolls, its use cases were conceived to be eventually expanded to everything concerning a vehicle such as fuel purchases, and parking payments, among others. 'While a limited number of large commercial properties like shopping malls have started using Fastag as a payment method for their parking fees, fuel has shown almost no adoption,' said the founder of a fintech startup offering this service. The high cost of installing Fastag-capable gates and tag readers has discouraged smaller commercial estates from adopting them. 'A large mall might be processing around Rs 30 to 40 lakh in parking payments per month, for that, the installation and maintenance might be a bit cumbersome,' the founder added. He said the average cost of installing a single gate could be around Rs 1.5 to 2 lakh, in addition to maintenance cost. 'There is no margin to be made on fuel payments, hence that use case is also not picking up,' said the executive of a digital payments firm cited above. Kerbside parking, one of India's most popular ways of parking vehicles, has also shown no signs of adopting Fastag as a payment method, with transactions mostly through QR codes or cash. Industry insiders also pointed out that the overall disillusionment among fintech startups on generating revenue from digital payments is one of the major reasons behind private firms not taking any fresh initiative on payments. They added that UPI grew in popularity due to large marketing spends into the ecosystem which incentivised customers towards adoption. 'No new-age fintech is pumping funds into digital payments right now. Fastag and such payment methods needed incentives to get more customers to use them readily, in the absence of incentives new use-cases are not building up,' said the founder of a digital payments startup. Fastag is also plagued by inefficient bank-led customer service, especially during instances of blacklisted tags or recharge issues. While PhonePe, and Amazon Pay are among Fastag distributors, they rely on banks for customer service, where the experience is often subpar. 'Banks make money on the float they get through these payments, otherwise there is hardly any incentive for others to offer superior customer experience,' said the founder cited above.
Time of India
21-07-2025
- Business
- Time of India
Fastag adoption in slow lane; UIDAI CEO interview
Fastag adoption in slow lane; UIDAI CEO interview Also in the letter: Fewer use cases take toll on Fastag growth In numbers: Limited application: Fastag was initially meant to digitise highway tolls, but over time, it was expected to evolve into a broader vehicle-linked payment system, covering everything from fuel to parking. While some adoption has trickled in for parking, fuel remains largely untouched, according to a fintech founder. Cost issue: Roadblocks: Yes, but: Also Read: UIDAI searches for more ways to curb Aadhaar, UID fraud Driving the news: Harnessing AI: Also Read: What's next: Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: IT companies tighten belt as AI, macro headwinds squeeze biz margins Reading signs: For instance: HCLTech trimmed its margin guidance for the first time in several quarters, now projecting 17%-18%, down from 18%-19%. TCS took an 80 basis point margin hit in Q1, mainly due to rising employee costs. Experts said top-tier firms are tightening the screws with measures such as cutting variable pay, deferring raises, and managing bench strength more stringently. Expert take: Keeping Count Other Top Stories By Our Reporters ETtech Explainer: CoinDCX cyberattack | Rebel Foods' new CEO: Towards D-Street: Global Picks We Are Reading Happy Monday! Fastag saw limited growth last fiscal, with momentum tapering off. This and more in today's ETtech Morning Dispatch.■ IT firms face double whammy■ Explained: CoinDCX cyberattack■ Rebel Foods' new CEOFastag, the electronic toll payment system for vehicle owners, has been stuck in neutral since early user base remains flat at around 350-380 million, and the number of participating banks has held steady at 38. Both figures have shown no movement in over a year, pointing to an apparent plateau in adoption.A key reason, industry insiders say, is the lack of fresh use cases beyond highway economics don't help either. Installing Fastag-enabled gates costs between Rs 1.5-2 lakh per gate, making it a tough sell for smaller commercial fintech startups have also stepped back, industry insiders say. They added that disillusioned with the revenue potential from digital payments, they have largely avoided launching new initiatives. The lack of incentives has further stalled innovation.'No new-age fintech is currently pumping funds into digital payments. Fastag and such payment methods needed incentives for more customers to use them readily. In the absence of incentives, new use-cases are not building up,' said the founder of a digital payments to that the headache of poor bank-led customer service—especially for recharge failures or blacklisted tags—and Fastag's once-impressive momentum has all but Kumar, CEO, UIDAIAmid rising concerns of Aadhaar-related fraud, the Unique Identity Authority of India (UIDAI) is tightening safeguards around the national ID system, CEO Bhuvnesh Kumar told curb misuse, the agency tasked with issuing Aadhaar will now verify changes to birth dates and biometrics directly with source databases across states, Kumar said. So far, UIDAI has integrated records from 35 states, linking them with key databases such as PAN, CBSE mark sheets, and Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).Technology is central to the effort. UIDAI is rolling out artificial intelligence (AI) and machine learning tools to flag fake fingerprints, enable 'live finger' checks, improve facial recognition, and estimate age using visual data. It also matches photos against the Bureau of Immigration records to catch fraudulent attempts.'When someone submits documents for Aadhaar enrolment or updates, we'll check them at the source to ensure they're genuine,' Kumar agency is working to move Aadhaar applications fully online. Demand from non-citizens living in India has also picked up. Still, UIDAI remains firm that they must complete 180 days in the country and apply under the correct category before becoming Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship Q1 earnings roll in, India's top IT firms are grappling with a double whammy : persistent macroeconomic pressures and AI-led efficiencies that are beginning to squeeze April and June, companies pulled every internal lever to shield profitability, even as momentum on large deals continued to slow. Analysts believe this playbook will likely persist through the rest of the fiscal added that revenue may see a modest lift from pent-up demand. However, margins are expected to stay under pressure as firms double down on cost discipline and operational rigour.'FY26 is a margin protection and margin expansion year,' Gaurav Vasu, CEO of data and research platform UnearthInsight, told ET. 'Large deal wins are not yet translating to revenue acceleration, so lead indicators (pipeline, bookings) matter—but execution and conversion will be critical in H2 FY26.'Indian cryptocurrency exchange CoinDCX suffered a cyberattack on July 19, stealing digital assets worth around $44 million from one of its internal operational kitchen company Rebel Foods has named cofounder Ankush Grover as its new chief executive, replacing Jaydeep Barman, who will transition into a chairman and group CEO AceVector Group, the holding company of Snapdeal and Unicommerce, said in a newspaper advertisement on Saturday that it has filed draft documents with the capital markets regulator for an initial public offering.■ AI groups spend to replace low-cost 'data labellers' with high-paid experts ( FT ■ A major AI training data set contains millions of examples of personal data ( MIT Tech Review ■ How the rise of green tech is feeding another environmental crisis ( BBC
