In a bid to streamline the electronic toll collection system and ensure smooth transit at toll plazas, the National Highways Authority of India (NHAI) has declared an extension of the Know Your Customer (KYC) compliance deadline for FASTags, according to source to PTI. Earlier, banks were tasked with deactivating FASTags without complete KYC after January 31, 2024.
Efficiency Boost with ‘One Vehicle, One FASTag’ Initiative
NHAI aims to enhance the efficiency of electronic toll collection by introducing the ‘One Vehicle, One FASTag’ initiative. The move discourages the use of a single FASTag for multiple vehicles or associating multiple FASTags with a specific vehicle. FASTags with a valid balance but incomplete KYC will be deactivated or blacklisted by banks after the January 31 deadline, as per NHAI’s official statement.
NHAI urges all FASTag users to complete the KYC process for their latest FASTag in compliance with RBI guidelines. After January 31, 2024, only the most recent FASTag account will remain active, leading to the deactivation or blacklisting of previous tags. To address queries or seek assistance, FASTag users can reach out to the nearest toll plazas or use the toll-free customer care number provided by their respective issuer banks.
Background and Initiative Rationale
NHAI implemented this measure in response to reports of multiple FASTags being issued for a specific vehicle and instances of FASTags being distributed without proper KYC, which violates RBI mandates. Deliberate instances of FASTags not being affixed to vehicle windshields, causing delays at toll plazas and inconvenience to other highway users, were also noted.
Impact of ‘One Vehicle, One FASTag’
With a remarkable penetration rate of around 98 percent and more than 8 crore users, FASTag has significantly transformed the electronic toll collection landscape in India. The ‘One Vehicle, One FASTag’ initiative is poised to further boost toll operations’ efficiency, ensuring seamless and comfortable journeys for users. Operating on Radio Frequency Identification (RFID) technology, FASTag facilitates toll payments directly from linked prepaid or savings accounts.
The NHAI statement emphasizes strict adherence to the ‘One Vehicle, One FASTag’ initiative and the proper disposal of previously issued FASTags through respective banks.
Guide to Updating FASTag KYC For users looking to update their FASTag KYC, follow these simple steps:
- Access the official FASTag website at https://fastag.ihmcl.com.
- Log in using your registered mobile number and password. If you’ve forgotten your password, utilize the OPT-based validation for login.
- Navigate to the dashboard menu and select the “My Profile” option from the left side.
- The “My Profile” page will display your KYC status and all profile details submitted during registration.
- If KYC is pending, proceed to the KYC sub-section next to the ‘Profile’ sub-section.
- Click on the ‘KYC’ sub-section, select your ‘Customer Type,’ and provide mandatory details, including ID proof, address proof documents, and upload a passport-size photo.
- Before submission, ensure to tick the declaration.
- Required documents for KYC include the Registration Certificate (RC) of the vehicle, a passport-size photograph of the vehicle owner, and KYC documents corresponding to the vehicle owner’s category.
For users with bank-issued FASTags, kindly visit your respective bank portal.
