Whether IDFC Bank resorting to collection of Deposits in Fastag by adapting to unfair business practices and whether their consumer grievance system meets the aspirations of Consumers?
National Highway Authority of India (NHAI) has come out with a Fastag to enable motorist to cross the toll plaza barriers without stopping at any of the toll plaza. The toll fee as applicable to the particular toll plaza gets automatically deducted from the prepaid balance in the card. Three Banks have been nominated for such fastag cards namely IDFC Bank, State Bank of India (SBI) and ICICI Bank. The main terms of the financial cost in the Tags have been specified by NHAI for the car as: 1. Cost of the Tag : Rs. 200/- 2. Security Deposit : Rs. 200/- 3. Minimum balance : Rs. 100/- The term Minimum Balance has been specified as "Minimum Balance is the minimum recharge amount to be done at the time of RFID tag activation" The plain reading of these costs indicates that the Tag would be costing you Rs. 500/- which will be having Rs. 100/- as minimum balance and the tag would be an active one...