The Importance of Updating FASTag KYC Before January 31, 2024
In a significant announcement, the National Highways Authority of India (NHAI) has declared that by January 31, 2024, banks will deactivate FASTags whose Know Your Customer (KYC) process remains incomplete. This move underscores NHAI’s commitment to align all FASTag users with the regulations set forth by the Reserve Bank of India (RBI).
Understanding “One Vehicle, One FASTag” Initiative
NHAI has initiated the “One Vehicle, One FASTag” program intending to enhance toll collection efficiency. This article delves into the significance of this program and the necessity for completing the KYC process for your FASTag.
What is FASTag?
FASTag is a small electronic tag affixed to a vehicle’s windshield, facilitating seamless toll payment at toll plazas without the need to stop.
Steps to Check and Update FASTag KYC Status
If your vehicle is equipped with FASTag, and funds are loaded onto it, ensuring that its KYC status is updated is crucial. Here are the steps to follow:
Open the Government FASTag Website
Visit the official FASTag website
Log in with your Registered Mobile Number and Password
Use your registered mobile number and password to log in. If you forget your password, log in using the OTP option.
Navigate to “My Profile” in the Dashboard
Go to the dashboard menu and select “My Profile” on the left.
Check KYC Status
The profile page will display information related to your KYC status and the details provided during registration.
Access the KYC Section
If KYC is pending, navigate to the “KYC” section next to the “Profile” tab.
Choose Customer Type
Select your customer type (Individual/Corporate) in the “KYC” section.
Provide Necessary Information
Fill in the required information, such as identification and address proof (Aadhar, PAN, License, etc.), and upload a passport-sized photo.
Declaration and Submission
Before submission, check the declaration box and complete the process by providing the necessary KYC verification details.
Required Documents for KYC
Ensure you have the following documents for KYC:
- Vehicle Registration Certificate (RC)
- Aadhar Card
- PAN Card
- Passport-sized Photo
Why is FASTag Essential?
FASTag streamlines toll payment at highway toll plazas, making the process hassle-free. It is a small tag linked to your bank account or prepaid card. As your FASTag-enabled vehicle approaches a toll booth, a sensor reads the tag, and the toll amount is automatically deducted from your bank account or prepaid card. No need to stop at the toll plaza; you can proceed directly.
The deadline for updating your FASTag KYC is January 31, 2024. Ensure compliance by following the provided steps. This initiative not only aligns with regulatory requirements but also contributes to the efficiency of toll collection systems.