BlackBuck partners with IDFC Bank, Yes Bank to offer free FASTags to truckers
Online trucking platform BlackBuck on Thursday said it has partnered with private lenders IDFC Bank and Yes Bank to provide FASTags to truck owners free of cost.
Truck owners can order FASTags on BlackBuck's Boss App, a digital services platform exclusively for truck fleet owners, and it will be delivered at their doorstep free of cost until December 31, 2019, the company said in a statement.
"BlackBuck offers free FASTags to truck owners across India. The FASTags on BlackBuck Boss app are provided in partnership with IDFC Bank and Yes Bank. The initiative is expected to help over three million trucks in India become FASTag compliant," it said.
Rajesh Yabaji, Co-founder of BlackBuck, said that the government's decision to make FASTag mandatory is a significant push towards making digital trucking economy a reality.
With this initiative, the startup looks forward to supporting the government's national electronic tolling agenda, which will reduce tolling times and revolutionise the logistics sector in India, he said.
From December 1, 2019, all lanes of free plazas on national highways will be 'FASTag lanes'.
The National Electronic Toll Collection (NETC) programme, the flagship initiative of the Ministry of Road Transport and Highways, has been implemented on a pan-India basis in order to remove bottlenecks and ensure seamless movement of traffic and collection of user fee as per the notified rates, using passive radio frequency identification (RFID) technology.
On Wednesday, the government said more than 70 lakh FASTags have been issued so far and Tuesday saw the highest per-day sales at 1,35,583 tags.
(Edited by Saheli Sen Gupta)