New Fastag Rules Effective August 1: KYC Updates, Vehicle Detail Linking. All You Need To Know
Date
7/31/2024 12:00:49 AM
(MENAFN- Live Mint) The updated FASTag rules will take effect on August 1, focusing on improving toll payment processes and easing congestion at toll booths.
Under the new FASTag rules, Know Your Customer (KYC) must be completed by October 31. Companies providing FASTag services are required to complete KYC for all FASTags issued between three and five years ago by this deadline.
The National Payments Corporation of India (NPCI) has issued 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.
Also Read: No FASTag on windshield? Prepare to pay double the toll on national highways.
New FASTag rules effective August 1
Replacement of 5-Year-Old FASTags: FASTags older than 5 years must be replaced.
KYC Update for 3-Year-Old FASTags: KYC must be updated for FASTags issued 3 years ago.
Linking Vehicle Details: 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.
Also Read: Alert! NHAI asks Paytm users to switch to another bank FASTag before THIS date
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.
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