Banking News

FASTag KYC: FASTags with incomplete KYC to get deactivated by banks after Jan 31: Govt


FASTag users, mark January 31 on your calendar.

If your KYC remains incomplete, your FASTag will get blacklisted or deactivated by banks after January 31 even if your account has valid balance.

The Ministry of Road Transport and Highways made this announcement on January 15.

To optimize the electronic toll collection system and facilitate smooth traffic flow at toll plazas, the National Highways Authority of India (NHAI) has introduced the ‘One Vehicle, One FASTag’ program. This initiative discourages the use of a single FASTag for multiple vehicles or the association of multiple FASTags with a specific vehicle.

Also read: NHAI rolls out ‘One Vehicle, One FASTag’ initiative

FASTag KYC: Details

NHAI is actively promoting the completion of the ‘Know Your Customer’ (KYC) process for the latest FASTag, aligning with RBI guidelines. To prevent any inconvenience, it is crucial for FASTag users to ensure that the KYC for their most recent FASTag is updated. Additionally, users must adhere to the ‘One Vehicle, One FASTag’ policy and discard any previously issued FASTags through their respective banks.After January 31, 2024, only the latest FASTag account will remain active, with previous tags being deactivated or blacklisted. NHAI has taken this step in response to reports of multiple FASTags issued for a single vehicle and instances where FASTags were distributed without completing the required KYC in violation of RBI mandates. Some users also neglect to affix FASTags on their vehicle’s windscreen, causing unnecessary delays at toll plazas and inconveniencing other National Highway users.

One Vehicle, One FASTag

With a penetration rate of approximately 98 per cent and over eight crore users, FASTag has transformed the electronic toll collection system in the country. The implementation of the ‘One Vehicle, One FASTag’ initiative aims to enhance the efficiency of toll operations, ensuring seamless and comfortable journeys for National Highway users. For any further assistance or inquiries, FASTag users can contact the toll plaza nearest to them or the toll-free customer care number provided by their respective issuer banks.

Also read: FASTag slashes average waiting time by 93% to 47 seconds


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