Under National Electronic Toll Collection (NETC) programme, FASTag is developed by ________.

Correct option is C

The correct answer is (c) National Payments Corporation of India (NPCI)

Explanation:
• FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly while the vehicle is in motion.
• It has been developed by the National Payments Corporation of India (NPCI) under the National Electronic Toll Collection (NETC) programme.
• The programme was launched to meet the electronic tolling requirements of the Indian market and ensure seamless movement across toll plazas.
• NPCI acts as a central clearinghouse for the toll transactions, connecting various banks and toll plazas.
• It was made mandatory for all four-wheelers in India from February 2021.

Information Booster:
• NPCI is an umbrella organisation for operating retail payments and settlement systems in India, also responsible for UPI and RuPay.
• The implementation is supported by the National Highways Authority of India (NHAI) and Indian Highways Management Company Limited (IHMCL).

Additional Knowledge:
(a) Industrial Finance Corporation of India (IFCI) (Option a)
• It is a development finance institution and does not develop retail payment technologies like FASTag.

(b) Insurance Regulatory and Development Authority (IRDA) (Option b)
• It is the regulatory body for the insurance sector in India.

(d) State Bank of India (SBI) (Option d)
• While SBI is an issuer bank for FASTag, it is not the developer of the technology or the programme itself.