Page 13 - Banking Finance February 2023

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Amazon launches prescrip- one the ECI is hosting under the US-led The average daily toll collection
Summit for Democracy platform, in through FASTag on NH fee plazas in
tion drug service
which the ECI has been selected to December 2022 was Rs. 134.44 crore,
Amazon is adding a prescription drug lead the cohort on elections integrity. and the single day highest collection
discount program to its growing touched Rs. 144.19 crore on 24 Decem-
The first conference was in October
healthcare business. ber, 2022.
where 50 representatives from 11
The retail giant said that it will launch countries participated. Similarly, the number of FASTag trans-
RxPass, a subscription service for cus- actions also witnessed a growth of
The conference comes at a time the
tomers who have Prime memberships. around 48% in 2022 as compared to
ECI has proposed the use of remote
Amazon said people will pay $5 a that in 2021. The number of FASTag
voting machines to enable domestic
month to fill as many prescriptions as transactions in 2021 and 2022 was 219
migrants to vote - a suggestion that
they need from a list of about 50 ge- crores and 324 crores respectively.
most political parties opposed at a
neric medications, which are generally
meeting held recently.
cheaper versions of brand-name drugs. PFRDA allows nominee
The company said the flat fee could FASTag toll collection rose
verification via online vid-
cover a list of medications like the an-
46% to Rs. 50,855 crore in
tibiotic amoxicillin and the anti-inflam- eos
2022
matory drug naproxen. To streamline the processing of service
Total toll collection through FASTag on requests, the Pension Fund Regulatory
Sildenafil also made the list. It's used
fee plazas, including state highway toll and Development Authority (PFRDA)
to treat erectile dysfunction under the
plazas, increased 46% to Rs. 50,855 will permit a video-based customer
brand name Viagra and also treats a
crore in 2022, the Ministry of Road identification process (VCIP) to verify a
form of high blood pressure.
Transport & Highways said in a nominee, claimant, and legal heir
statement. while processing the withdrawal claims
EC to host international
in case of death of NPS subscribers.
"Electronic Toll Collection (ETC) through
conference on use of tech
FASTag has witnessed constant growth As per a media report, while the video-
The Election Commission of India (ECI)
over last few years. Total toll collection based identification facility is optional
will host a two-day international con-
via FASTag on fee plazas, including State for intermediaries, the pension regula-
ference for election management offi-
Highway fee plazas during calendar tor has advised Points of Presence
cials from 17 countries with the focus
year 2022 was Rs. 50,855 crore, which (PoPs) to utilise the emerging technol-
on "use of technology and elections
is an increase of approx. 46% as com- ogy for enhanced due diligence and
integrity", it said in a statement.
pared to Rs. 34,778 crore in 2021," the error-free, timely claims processing.
The conference would be the second ministry said. PFRDA has reportedly said that the e-
12 | 2023 | FEBRUARY | BANKING FINANCE