The Delhi High Court has taken notice of a plea seeking interest payment on FASTag and the establishment of a minimum amount requirement for the electronic toll collection system.
The court has sought responses from the National Highways Authority of India (NHAI) and the Ministry of Road Transport and Highways regarding the matter.
The petitioner argues that banks should be mandated to pay interest on the funds deposited in FASTag accounts.
Chief Justice Satish Chandra Sharma and Justice Subramaniam Prasad have issued a notice to NHAI and the Ministry, scheduling the next hearing for August 10.
Thousands of crores of rupees have entered the banking system through the implementation of FASTag without any direct benefit to NHAI or the Ministry of Road Transport and Highways, states the petition filed with the court.
The court has granted a four-week period for the authorities to respond.
The petitioner also challenges the rule imposing double toll tax on vehicles without FASTag, claiming it to be discriminatory and against public interest. The rule grants NHAI the authority to collect tolls at twice the rate for cash payments.
Advocate Praveen Aggarwal, representing petitioner Ravindra Tyagi, who is part of the banking system, stated that over Rs 30,000 crore has been included in the banking system since the introduction of FASTag.
The petition suggests that applying a fixed deposit rate of 8.25% per annum to this amount would result in an annual profit of over Rs 2,000 crore for NHAI or the Ministry of Road Transport and Highways.
The plea further argues that the current funds deposited in banks are being utilized without cost.
The interest earned on this amount should rightfully belong to either NHAI, the Ministry, or the passengers, and should be utilized for the benefit of road infrastructure and the traveling public.
The petition also calls for the establishment of a separate fund named ‘Yatri Kalyan Kosh’ to utilize the interest earned from FASTag for the welfare of travelers.
