Soon FASTag may be used to buy insurance coverage, pay challans

NEW DELHI: You may quickly be ready to use your car’s FASTag to pay site visitors challans, parking price, insurance coverage premium and for EV charging, as well as to freeway tolls. With practically 11 crore FASTags issued by banks, the govt. is exploring methods to broaden its use as a versatile fee software.To take this ahead and agency up the following section of FASTag progress, the street transport and highways ministry and the NHAI on Wednesday held a brainstorming workshop with high officers from the finance ministry and fintech companies. Road transport minister Nitin Gadkari stated by collaboration with fintechs and different stakeholders, the govt. goals at increasing the utility of FASTag into a strong platform that may “enhance user convenience, streamline transport and mobility services”.Sources stated street transport secretary V Umashankar stated whereas FASTag has largely launched manless tolling and remove boundaries this will be used for different functions linked to automobiles, similar to paying for gasoline, insurance coverage premium and site visitors challan, as the govt. has enforced the ‘one vehicle, one tag’ rule.On the prospect of permitting insurance coverage firms to challenge FASTag to enhance protection of insured automobiles from 50% to 75%-90% in three years, the secretary stated that is attainable however there’s a want to cleansing the ‘Vahan’ database, which has round 7.5 crore inactive automobiles.