CSC inks pact with Paytm Payments Bank for sale of FASTags

Common Service Centres (CSC) e-Governance Services India has signed a memorandum of understanding with Paytm Payments Bank Ltd (PPBL) for sale of FASTags. The agreement will facilitate the sale of PPBL FASTags through the last mile network of 3.6 lakh CSCs, helping realise the government’s vision of cashless and smooth transit at all toll plazas across the country.

FASTags which work on Radio Frequency Identification (RFID) technology have been made mandatory at toll gates on national highways. The FASTag process allows toll payments directly from the prepaid or savings account linked to it, thus doing away with the need for waiting in queues, saving time and fuel.

Important takeaways for all competitive exams:

• Chief Executive Officer (CEO) of Common Service Centres (CSC): Dinesh Tyagi.
• Chairman of Paytm Payments Bank Ltd: Vijay Shekar Sharma.
• Chief Executive Officer (CEO) & Managing Director (MD) Paytm Payments Bank Ltd: Satish Kumar Gupta.

Source: The Business Standard

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