FASTag New Rules Effective From August 1: As July ends, new rules related to FASTag are set to take effect in August. FASTag is an electronic toll collection system launched by the Indian government in 2019 and operated by the National Highways Authority of India. It makes toll payments easier, using Radio Frequency Identification technology, and reduces congestion at toll plazas.
According to the Zee business, the National Payments Corporation of India (NPCI), an umbrella organization for operating retail payments and settlement systems in India, has issued new guidelines, focusing on FASTag KYC (Know Your Customer) requirements. The new guidelines must be followed starting August 1. Although many rules are already in place, the new KYC requirement for FASTag is crucial.
FASTag New Rules: KYC Must Be Completed By October 31
According to NPCI guidelines, companies offering FASTag services must complete KYC for all FASTags issued three to five years ago by October 31. The process starts on August 1, and customers need to ensure their KYC is updated within the given period.
From August 1 to October 31, FASTag service providers must comply with NPCI conditions. The companies must update KYC for FASTags issued three to five years ago and replace FASTags older than five years. Vehicle owners should also ensure their KYC is completed by October 31 for smooth FASTag operations.
New Rules Effective August 1
– Replacement of 5-year-old FASTags.
– KYC update for 3-year-old FASTags.
– Updating the registration number of the vehicle within 90 days of purchase.
– Linking vehicle registration number and chassis number with FASTag.
– FASTag providers must verify their databases.
– Linking FASTag to a mobile number.
– Uploading clear photos of the car’s front and side.
– Completion of KYC requirements by October 31, 2024.