Incomplete KYC May Lead To Deactivation of FASTags After 31 Jan: NHAI
The National Highway Authority of India (NHAI) declared on Monday that FASTags with valid balances but incomplete Know Your Customer (KYC) processes will be deactivated by banks after 31 January 2024.
In an effort to enhance the efficiency of the electronic toll collection system and ensure seamless traffic flow at toll plazas, NHAI introduced the 'One Vehicle, One FASTag' initiative, discouraging the use of a single FASTag for multiple vehicles, according to a statement by the authority.
NHAI is urging FASTag users to promptly complete the KYC process for their latest FASTag, aligning with Reserve Bank of India (RBI) guidelines. To prevent any inconvenience, users are advised to ensure the completion of KYC for their most recent FASTag, the statement emphasised.
NHAI suggests adhering to the 'one vehicle, one FASTag' guideline and cancelling any previously issued FASTags. After 31 January 2024, only the latest FASTag account will remain active, as earlier tags will be deactivated or blacklisted, NHAI confirmed.
For any assistance or queries, FASTag users can reach out to the nearest toll plaza or contact the toll-free customer care number of their respective issuing banks.
NHAI initiated this move in response to reports of multiple FASTags being issued for a specific vehicle and instances of issuing FASTags without completing KYC, which goes against the RBI's directives, the statement added.
Additionally, NHAI addressed issues where FASTags were intentionally not affixed to vehicle windows, causing unnecessary delays at toll booths and inconveniencing fellow national highway commuters.
With a penetration rate of approximately 98 per cent and over 8 crore users, FASTag has significantly transformed the electronic toll collection system in the country. The 'One Vehicle, One FASTag' initiative is anticipated to streamline customs operations, ensuring efficient and convenient journeys, as per the statement.
