The updated FASTag rules, aimed at streamlining toll payment processes and reducing congestion at toll booths, will come into effect on August 1, 2024. These new rules, issued by the National Payments Corporation of India (NPCI), emphasize the importance of Know Your Customer (KYC) compliance.
One of the key updates is the mandatory KYC requirement for all FASTags. Companies offering FASTag services must complete the KYC for FASTags issued between three and five years ago by October 31, 2024. This means that FASTag customers need to ensure their KYC is updated within this period to comply with NPCI guidelines.
In addition to the KYC update, FASTags older than five years must be replaced. This is to ensure the security and efficiency of the toll payment system.
Other important changes include linking the vehicle registration number and chassis number with the FASTag, updating the registration number within 90 days of purchasing a new vehicle, and verifying the databases of FASTag providers. FASTag users are also required to upload clear photos of the car’s front and side and link their FASTag to a mobile number.
Failure to comply with these new rules could result in penalties, including double the toll charges for vehicles without a valid FASTag. Therefore, it’s crucial for vehicle owners to be aware of these changes and take the necessary steps to ensure their FASTags are compliant.
