Friday , September 20 2024

Good news for FASTag holders, interest demand on deposits, HC seeks reply from Centre

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A common problem for any car driver who gets a FASTag is that after recharging the FASTag, the money that you can’t use stays there. In that regard, the Delhi High Court has sought a response from the National Highways Authority of India and the Center on a plea seeking payment of interest on FASTag and minimum balance required in the card.

Banks should be instructed to pay interest on money deposited in FASTag

The petition directed the banks to pay interest on the money deposited in FASTag. A bench of Chief Justice Satish Chandra Sharma and Justice Subramaniam Prasad issued a notice to the NHAI and the Ministry of Road Transport and Highways on a petition. The petition said that by issuing FASTags, crores of passengers have entered the banking system without any benefit to the NHAI or the Ministry of Road Transport and Highways.

The court has given 4 weeks time to respond to this

The court has given 4 weeks time to respond to this and fixed August 10 for the next hearing of the case. The plea was filed in a pending petition challenging the rule forcing vehicles without FASTag to pay double toll tax. The petition stated that the rules are discriminatory, arbitrary and against public interest as they empower NHAI to levy toll at double rate for cash payment. More than 30,000 crores were involved in the banking system.

Every year NHAI gets Rs. More than 2,000 crores will be benefited

Advocate Praveen Agarwal, appearing for the petitioner, stated in the application that after the implementation of FASTag, the banking system has received Rs. More than 30,000 crores have been added. The petition states that if a fixed deposit rate of 8.25 per cent per annum is applied to this figure, NHAI would have to pay Rs. More than 2,000 crores will be benefited.