If your car has a FASTag installed, you are aware that the money is kept thereafter recharging until it is used. The NHAI and the Centre have been asked to respond to the Delhi High Court about a request for payment of interest on FASTag and the minimal amount needed for the card. According to the petition, banks ought to be told to give interest on money put in Fastag. In response to a plea, a bench consisting of Chief Justice Satish Chandra Sharma and Justice Subramaniam Prasad informed NHAI and the Ministry of Road Transport and Highways.
The next hearing will take place on August 10th.
According to the court petition. Millions of crores of passengers entered the banking system after the FASTag was issued. But neither the NHAI nor the Ministry of Road Transport and Highways reaped any benefits from this. The court has given you four weeks to respond in this regard. The next hearing is scheduled for August 10th. The need that vehicles without fastag to pay double toll tax has also been contested in the application. According to the petition, this law allows NHAI to charge twice as much for tolls when cash payments are made, which is discriminatory, arbitrary, and against the public interest.
In the application, attorney Praveen Aggarwal said that
after the launch of the Fastag service. A sum of more than Rs 30,000 crore had been added to the banking system on behalf of petitioner Ravindra Tyagi, who had joined the banking system. The petition claimed that the NHAI or the Ministry of Road Transport and Highways will earn by more than Rs 2,000 crore annually. If a fixed deposit (FD) rate of 8.25 percent per year is applied to this sum.
According to the petition
banks and other financial organizations are currently using this money at no cost to them. The NHAI, the Ministry of Road Transport and Highways, or the passengers are the rightful owners of the interest in this sum. And it must be used for the benefit of the road, the highway, and the travelers. A request has also been made in the petition to instruct the administration. And to set up a separate fund called “Yatri Kalyan Kosh” to hold the money earned from Fastag’s interest.
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