After February 29, 2024, FASTags may face blacklisting, and PayTM-issued tags will be unable to replenish balances.
Recent developments have brought the FASTag, the predominant method for toll payments, into the spotlight. Two significant updates have emerged: firstly, the National Highway Authority of India (NHAI) has set a deadline for completing the Know Your Customer (KYC) process for your FASTag. Secondly, the Reserve Bank of India (RBI) has directed PayTM to cease operations of its payments bank, impacting the issuance of FASTags by the financial tech platform. We’ve compiled essential information on these matters and outlined the necessary actions you need to take.
The NHAI has introduced a new program named “One Vehicle, One FASTag” to streamline toll collection and reduce delays. As a part of this initiative, NHAI is instructing vehicle owners to fulfill the KYC requirements for their FASTags as per RBI guidelines. Although the initial deadline was January 31, it has been extended to February 29.
This is attributed to NHAI’s observation of several instances wherein a single vehicle was assigned multiple FASTags, as well as situations where a lone FASTag was utilized by multiple vehicles. Upon successful completion of the KYC process, each vehicle will be associated with only one valid FASTag.
What happens if I fail to finalize FASTag KYC?
Failure to complete KYC before the deadline will result in the deactivation of your vehicle’s FASTag, even if there is a remaining balance. Additionally, if your vehicle has multiple FASTags with valid KYC, only the latest one purchased will stay active, while the others will be blacklisted.
Owners should prioritize completing the Know Your Customer (KYC) process for their FASTag at the earliest. This can be accomplished through both online and offline methods. Going forward, it is advisable to utilize only one FASTag. To check the KYC status, log in to the official website or visit the relevant bank website that issued your specific FASTag.
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