FASTag New Rules: Enhancing Toll Payments and Reducing Congestion
The new FASTag rules are set to take effect on August 1, bringing significant changes aimed at improving toll payment processes and alleviating congestion at toll booths.
Key Updates
KYC Updates Deadline
Under the updated FASTag regulations, “Know Your Customer (KYC) must be completed by October 31.” Companies providing FASTag services must ensure that KYC for all FASTags issued between three and five years ago is completed by this deadline.
NPCI Guidelines
The National Payments Corporation of India (NPCI) has issued these new guidelines, with a key update being the mandatory FASTag KYC requirements. “The KYC process starts on August 1, and FASTag customers should ensure their KYC is updated within this period to comply with NPCI guidelines.”
Detailed Changes
Replacement of 5-Year-Old FASTags: FASTags older than five years must be replaced.
KYC Update for 3-Year-Old FASTags: KYC must be updated for FASTags issued three years ago.
Linking Vehicle Details: The vehicle registration number and chassis number must be linked with the FASTag.
New Vehicle Registration Update: Update the registration number within 90 days of purchasing a new vehicle.
Database Verification: FASTag providers must verify their databases.
Photo Upload Requirement: Upload clear photos of the car’s front and side.
Mobile Number Linking: FASTag must be linked to a mobile number.
Moreover, starting August 1, companies must adhere to NPCI mandates, which involve updating KYC for FASTags that are three to five years old and replacing those older than five years by October 31. Vehicle owners are also required to complete their KYC by October 31, 2024.
These updates are part of a broader effort to streamline the toll payment system, ensuring faster and more efficient transactions. Vehicle owners are advised to comply with the new rules promptly to avoid any disruptions. For more detailed information, please visit the NPCI website or contact your FASTag service provider.
Stay ahead of the curve and ensure your FASTag details are updated. Complete your KYC and link your vehicle details by October 31 to avoid any inconvenience. For any assistance, reach out to your FASTag provider today.
