National Highways Authority of India (NHAI) has approached to National Payments Corporation of India (NPCI) to set up an interbank clearing house to enable e-tolling across 350 toll plazas in the country.
The move is expected to help the country save thousands of crores of rupees annually throughout fuel consumption and speed up. It also a very time saving step of Government. After effect of this a pan-India electronic toll collection system on national highways may help save Rs 87,000 Cr.
As per the study of the Transport Corporation of India and the Indian Institute of Management Calcutta indicates that the length of time at toll points adds up to a cost of Rs 27,000 Cr. a year. And the extra fuel spent on slowing down and stopping at checkpoints amounts to an additional Rs 60,000 Cr.
-Government launched India first toll collection FASTaG system in 2014 along with ICICI and AXIS Bank as a merchant patner.
So lets do:
1- Who is present chairman of NHAI ?
2- What you understand by NPCI ?
Source – Times of India