FASTag New Rules: From August 1, 2024, new KYC (Know Your Customer) rules will be applicable for FASTag users, which have been issued by NPCI. All FASTag service providing companies will have to complete the KYC process for tags which were issued 3-5 years ago by 31 October 2024.
FASTag New Rules: From August 1, 2024, new KYC (Know Your Customer) rules will be applicable for FASTag users, which have been issued by NPCI. All FASTag service providers will have to complete the KYC process for tags that were issued 3-5 years ago by 31 October 2024. This makes it important to ensure that your KYC information is updated so that there is no problem in service. It will also be mandatory to replace FASTags older than 5 years. All FASTags must be linked to the vehicle registration number and chassis number. All necessary KYC processes have to be completed by 31 October 2024.
New rules are coming into effect from August 1
The National Payments Corporation of India (NPCI) has issued new guidelines, emphasizing FASTag KYC (Know Your Customer) standards that will come into effect from August 1, 2024. NPCI said in a notification that the last date for completing KYC under the new FASTag rules has been fixed as 31 October 2024. Customers who have taken FASTag for three to five years till this date will have to complete KYC.
FASTag KYC will have to be completed by 31 October
According to the notification issued by NPCI, all tags issued from August 1, 2024 will be required to follow these rules. Each tag will be linked to a mobile number. The issuer will have to ensure that proper KYC linked to the mobile number is completed. Each issued tag will be a unique VRN i.e. Vehicle Registration Number, which will be linked to the chassis number. In case of new vehicles where VRN is not available, the chassis number will be mandatory.
Get this work done on time – otherwise FASTag will be closed
FASTag users should complete the KYC process before the stipulated deadline, otherwise their tag may be closed. This move of NPCI will make the use of FASTag even more secure across the country. Fastag takers will also have to ensure that the VRN is updated within 90 days, and if they fail to update the VRN, then the issuer will have to put such tags in the hotlist. If the VRN is not updated even within 30 days of hotlisting, the issuer may deactivate these tags. The tag details will be verified from the VAHAN database or the issuer will have verified the data.
