Update FASTag KYC Before Deadline Or Risk Deactivation, Warns NHAI: Here's How To Check

The National Highways Authority of India (NHAI) has issued a crucial update for FASTag users: complete your ‘Know Your Customer’ (KYC) process or risk deactivation. In a bid to enhance the efficiency of electronic toll collection and facilitate smoother traffic at toll plazas, NHAI, from January 31, 2024, will deactivate FASTags with incomplete KYC, even if they have a valid balance.

What to know? NHAI’s newly launched ‘One Vehicle, One FASTag’ initiative aims to prevent the misuse of a single FASTag across multiple vehicles or linking numerous FASTags to one vehicle. This move is expected to streamline operations and ensure a hassle-free journey for national highway commuters.

Users must ensure their latest FASTag is KYC-compliant as per RBI guidelines. This is crucial to avoid inconvenience post the January 2024 deadline. Additionally, NHAI urges users to discard any previously issued FASTags through their respective banks. NHAI states, “Only the latest FASTag account will remain active, as we will deactivate or blacklist previous tags.”

See also: L&T Construction Bags Electrification Contract For Mumbai-Ahmedabad Bullet Train Project

How to Update FASTag KYC

To update the KYC for your FASTag, you can choose from documents like a Passport, Voter’s ID, Aadhar Card, Driving License, PAN Card, or NREGA Job Card, along with the vehicle’s registration certificate.

How to Update FASTag KYC online:

  • Step 1: Visit the IHMCL FASTag portal.
  • Step 2: Log in using your mobile number.
  • Step 3: Go to “My Profile,” and check the KYC status.
  • Step 4: Click on “KYC,” select “Customer Type,” and upload the necessary documents.

How to Update FASTag KYC offline:

  • Step 1: Head to the nearest branch of your FASTag issuing bank.
  • Step 2: Fill out the KYC update form with updated details.
  • Step 3: The relationship manager at the bank can also assist in the update process.

Read Next: RBI Unveils Draft Framework For Fintech Self Regulation: Here's Why It Matters

Market News and Data brought to you by Benzinga APIs

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: FintechGovernmentRegulationsTechGeneralFASTag
Fintech Focus Newsletter

Your update on what’s going on in the Fintech space. Keep up-to-date with news, valuations, mergers, funding, and events. Sign up today!