Page 19 - Banking Finance December 2022

PRESS RELEASE

ICICI Bank enables FASTag based parking payment at Terminal 2 of

Mumbai airport

said “We are delighted to introduce FASTag based payment
for parking at Terminal 2 of the Chhatrapati Shivaji Maharaj
International Airport, one of the busiest airports in the
world. We believe this facility will improve convenience of
users by saving their time and dependency on cash.
We were the first bank in the country to launch FASTag on
the Mumbai – Vadodara corridor in 2013. Since then, we
have pioneered the usage of FASTag for payments at various
national and state highway toll plazas and parking at
airports, malls, business hubs and at tech parks across the
country. In addition, we have introduced the facility at fuel
stations so that users can avail the triple benefit of using
one tag for payments for fuel, toll and parking.”
ICICI Bank today announced that it has enabled FASTag
FASTag is a brand name owned by Indian Highways
based payment for parking at Terminal 2 of the Chhatrapati
Management Company Ltd. (IHMCL), which carries out
Shivaji Maharaj International Airport, Mumbai. The facility
electronic tolling and other ancillary projects of National
allows users to pay the parking charges digitally and in a
Highway Authorities of India (NHAI). National Payments
contactless manner, resulting quicker movement of vehicles
Corporation of India (NPCI), IHMCL and NHAI are working
in the parking zone. The scanners installed at the parking
together to make state and national highway toll payments
zone reads the FASTag affixed on the windscreen of the
completely digital.
vehicle, records the entry/ exit time and deducts the
Customers of ICICI Bank can avail FASTag using the Bank's
parking charges automatically.
digital channels such as internet banking, iMobile Pay app,
ICICI Bank is the only bank to introduce the FASTag facility
InstaBIZ app, Pockets app or by visiting the nearest branch.
at the Mumbai airport. It has been inaugurated at one of
Users who are not the customers of ICICI Bank can purchase
the parking lanes today. It will soon be enabled in other
the FASTag by visiting the website: www.icicibank.com/
lanes.
fastag, toll plaza sales office or the ICICI Bank FASTag sales
Speaking on the partnership, Mr. Sudipta Roy, Head – Credit office.FASTag can be reloaded with funds online using ICICI
Cards, Payment Solutions & Merchant Ecosystem, ICICI Bank Bank's UPI and NEFT platforms.
Bank of Baroda Increases Interest Rates again on Retail Term
Deposits by up to 65 basis points

Bank of Baroda (Bank), one of India’s leading public sector banks, today announced an increase in interest rates on
Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by up to 65 basis points across various tenors.
These rates are applicable on deposits below Rs 2 crore, with effect from December 26, 2022.
Interest rates have also been hiked on the special scheme Baroda Tiranga Plus Deposit Scheme. The 399 Day Baroda
Tiranga Plus deposit scheme now offers interest rates up to 7.80% p.a, which includes 0.50% p.a. for senior citizens and
0.25% for non-callable deposits. Further, the Bank is offering interest rates up to 7.50% p.a, which includes 0.50% p.a.
for senior citizens and 0.25% for non-callable deposits, for a period of 1 year and upto 3 years.
Bank of Baroda has increased retail term deposit interest rates for the second time this quarter, including up to 100 bps
hike in November 2022.
Existing and new customers of Bank of Baroda can open a FD through any of the Bank’s branches across India. An online
FD can also be opened by existing customers via the Bank’s Mobile app (bob World)/ Net Banking (bob World Internet).

BANKING FINANCE | JANUARY | 2023 | 19