• Source:JND
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A senior government official announced on Wednesday that the Indian Highways Management Company, a division of the state-owned NHAI, will extend the KYC compliance deadline for FASTags by one month.

The National Highways Authority of India (NHAI) announced on January 15 that banks will deactivate FASTags with valid balances but incomplete KYC after January 31, 2024.

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"Only 7 lakh multiple FASTags have been closed out of 1.27 crore. Hence, we are proceeding with extending the deadline by another one month," the official told PTI on the condition of anonymity.

It has implemented the 'One Vehicle, One FASTag' initiative, which aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle, to improve the efficiency of the electronic toll collection system and provide seamless movement at toll plazas, the NHAI had said earlier this month.

The state-owned organisation added that it is urging FASTag users to update their KYC under RBI guidelines and finish the 'Know Your Customer' (KYC) procedure of their most recent FASTag.

Over 8 crore users and a penetration rate of about 98 per cent mean that FASTag has completely transformed the nation's electronic toll collection system.

What Is FASTag?

FASTag is an electronic toll collection system operated by the National Highway Authority of India. By using Radio Frequency Identification (RFID) technology, it is able to pay the toll owner directly or through the associated prepaid or savings account.

Complete KYC With These Steps

  • Through a variety of channels, such as online platforms, FASTag service centres, and designated banks, users of FASTag may complete their KYC requirements. The NHAI advises users to make quick use of these resources to minimise any inconvenience.
  • Log in with your mobile number and the OTP you received on your phone.
  • On the homepage, locate the "My Profile" section and click the KYC tab.
  • Enter all of the necessary information and click the submit button.
  • The KYC will be complete.

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