Nepal Rastra Bank Authorizes Commercial Banks to Collect Road Tolls via RFID
Summary
Nepal Rastra Bank authorizes 'A' class commercial banks to issue RFID tags for automated road toll collection, enabling quicker payments without vehicle stops at toll plazas.
Key Points
- Nepal Rastra Bank has granted 'A' class commercial banks authority to collect road tolls via RFID.
- Licensed banks can now issue RFID tags for automatic toll payment on government-designated roads.
- This system aims to remove the need for vehicles to wait in queues at toll booths.
- The initiative aligns with government policy to promote digital payments and technology-friendly public services.
