New FASTag Rules Effective From August 1
As July comes to an end, several new rules are set to take effect in August, including updates related to FASTag. If you’re a driver, you’re likely familiar with FASTag. It is a system designed to streamline toll payments and reduce congestion at toll booths. The National Payments Corporation of India (NPCI) has issued new guidelines, with a particular focus on FASTag KYC (Know Your Customer) requirements, which must be followed starting August 1.
Key Changes
- KYC Deadline: According to NPCI guidelines, companies providing FASTag services have until October 31 to complete KYC for all FASTags issued three to five years ago. The process begins on August 1, and customers need to ensure their KYC is updated within this period.
- Older Vehicle Owners: From August 1 to October 31, companies will have to meet NPCI conditions, including updating KYC for FASTags older than three to five years and replacing FASTags older than 5 years. Vehicle owners should be aware of these deadlines and ensure their KYC is completed by October 31.
- Other requirements:
- Replacement of 5-year-old FASTags
- KYC update for 3-year-old FASTags
- Linking vehicle registration number and chassis number with FASTag
- Updating the registration number within 90 days of purchasing a new vehicle
- FASTag providers must verify their databases
- Uploading clear photos of the car’s front and side
- FASTag must be linked to a mobile number
- Completion of KYC requirements by October 31, 2024
These new rules aim to enhance the efficiency and compliance of the FASTag system, bringing about improvements that benefit both providers and users alike. Stay updated and ensure timely compliance with these new regulations to avoid any inconvenience in the future.
