Equitas Small Finance Bank launches FASTag powered truck terminal

New Delhi: Equitas Small Finance Bank on Friday said it has launched a FASTag powered truck terminal at Khalapur, in Maharashtra. Equitas Small Finance Bank (Equitas SFB) has partnered with Maharashtra State Road Development Corporation Limited (MSRDC) and Ocean Highway Facilities and Solutions Pvt Ltd for launching country's first FASTag powered truck terminal at Khalapur, Maharashtra on the Yashwantrao Chavan Mumbai - Pune Expressway, Equitas SFB said in a release.

The terminal has a capacity of 160 trucks, which can be parked at any given point in time. At this juncture more than 350 trucks visit the terminal in a day, said the bank.

National Payments Corporation of India (NPCI) has developed the National Electronic Toll Collection (NETC) system to meet the electronic tolling requirements of the Indian market. It offers an interoperable nationwide toll payment solution including clearing house services for settlement and dispute management.


From January 26, 2021, FASTag is compulsory on the Mumbai - Pune expressway, and the parking plaza is just 1 km away from the terminal, Equitas SFB said.

FASTag, affixed on the windscreen of the vehicle, Radio Frequency Identification (RFID) technology for making toll payments directly from an account linked to it while the vehicle is in motion.

FASTag offers the convenience of cashless payment along with benefits like - savings on fuel and time as the customer does not have to stop at the toll plaza.