ICICI Bank Ltd.

ICICI Bank, India’s largest private sector bank, has launched first ‘electronic toll collection’ on NH-1. This is a first of its kind project initiated by Ministry of Road, Transport & Highways, National Highway Authority of India (NHAI), and ICICI Bank. 

The Bank is working with a group of concessionaires on NH-1.The toll operators would be issuing Radio Frequency Identification Device (RFID) Tags to road users to be read at the toll plazas. Through this system, the road users will get a convenience of payment without stops at toll plazas which would lead to less traffic congestion.

ICICI Bank will be making the tag interoperable such that it can be used across multiple toll collection plazas on NH-1. The Bank would act as a Central Clearing House (CCH) for settlement of financial transactions of the toll agencies and update the Tag account status of road users. This will help minimize the toll operators operating cost and offer them better control through centralized user accounts.

In addition, the Government will benefit through improved transparency on toll transactions and reduced revenue leakages.