It is as important that the law knows you as it is that you know the law. Confused? Let us explain. Recently, the National Highways Authority of India (NHAI) extended the deadline for updating FASTAg’s Know Your Customer (KYC) process till February 29, 2024. While many of you have already jumped on the bandwagon, many of you are still unsure. If you are wondering how to proceed with the FASTag KYC update, then you are at the right place. Read on to find out.
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What are the new FASTag regulations?
To make electronic toll collection smoother and ensure the smooth movement of vehicles at toll plazas, the National Highways Authority of India (NHAI) launched the “One Vehicle, One FASTag” initiative on January 15.
NHAI has made it mandatory to carry out the Know Your Customer (KYC) process for FASTags as per the latest RBI guidelines. The body further highlighted that non-compliance may result in the deactivation of active FASTags with valid balances. NHAI has also advised users to deactivate multiple FASTags issued by banks and retain only one active FASTag after completing the required FASTag KYC update.
Why update KYC for FASTag?
The FASTag KYC update is important for several reasons.
Regulatory Compliance:
The National Highways Authority of India (NHAI) and Reserve Bank of India (RBI) require users to maintain current KYC – information for financial transactions including the use of FASTag.
Security:
Verifying and updating your KYC details helps prevent fraudulent activities related to FASTAg transactions, improving user and overall system security.
Smooth Transactions:
Updated KYC ensures smooth transactions at toll plazas, reducing delays and avoiding inconvenience while driving.
Regulatory Changes:
Regulatory requirements and guidelines for the use of FASTag may change over time. Updating your KYC information ensures compliance with new regulations and standards.
Service Continuity:
Failure to update your KYC information within the specified deadline may result in your FASTAg account being deactivated, resulting in the interruption of services like cashless toll payments.
What documents are required for KYC renewal?
For the FASTag KYC update, you will need the following documents:
- Vehicle Registration Certificate (RC)
- Driving License
- Identity Card
- Address ProofÂ
- Passport Photo
How can I update my FASTag KYC details online?
- Step 1: Visit the official FASTag portal.
- Step 2: Sign in using your mobile number and One-Time Password (OTP).
- Step 3: Go to the “My Profile” tab on the homepage.
- Step 4: Prepare your registration certificate, driving license, address proof, identity card and photograph of your vehicle.
- Step 5: Fill in all the required details and you are good to go.
- If you want to update your KYC for FASTag through your bank’s portal, follow these steps: Step 1: Visit the official website of the bank or issuing authority that provided you with your FASTag.
- Step 2: Log in to your bank’s website using your login details.
- Step 3: After logging in, find the KYC section and navigate to the FASTag section.
- Step 4: Please bring your vehicle registration, driver’s license, and proof of address, ID and photo.
- Step 5: Fill in all the required information and you’re done.
What are the benefits of the IHMCL FASTag Portal?
NHAI FASTag provides a perfect solution for hassle-free travel on all national highways. It allows automatic toll deduction and allows you to pass through toll plazas without stopping for cash transactions. NHAI Prepaid Wallet gives you a wide range of options to recharge your FASTag.
You can easily recharge your FASTag using debit card, credit card, online banking or UPI. Moreover, NHAI FASTag offers flexibility in recharge. You are free to choose the top-up amount as per your preference and specific requirements. Be it small or large recharges, you can easily recharge your FASTag at your convenience, ensuring a smooth and uninterrupted journey on national highways.
What features does the official FASTag portal offer?
Following are the key features of the official FASTag portal: SMS alerts for transactions: You will receive SMS alerts on your registered mobile number for all transactions made through your Tag account.
No need to carry cash:
You no longer need to carry cash for paying tolls, ensuring convenience and efficiency while travelling.
Online Recharge:
You can easily recharge your Tag account online using your debit card or online banking, giving you the flexibility to top up your balance.
Customer Web Portal:
Log in to the FASTag customer portal for easy access to your statements and account details. This allows you to easily manage and monitor your transactions.
How do I check my FASTag KYC update status?
To check the status of your FASTag, follow these steps: Visit the official FASTag website.
- Click on the “Login” tab at the top right corner of the page.
- Log in using the OTP authentication and enter your registered mobile number.
- After logging in, navigate to the “My Profile” section of the dashboard.
- The KYC status of your FASTag can be checked under the Profile section.
With these steps, you can easily check the status of your FASTag and ensure that your KYC details are up to date for smooth transactions.
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