Aug 02, 2024 03:52 PM IST
FASTag KYC rules: All FASTags issued between three to five years ago must complete updated KYC procedures. Check all details here
The National Payments Corporation of India (NPCI) announced new guidelines with focus on FASTag KYC (Know Your Customer) standards. The rules come into effect from August 1 and the deadline for completing KYC under the new FASTag regulations is October 31, 2024. FASTag service providers must finish KYC for every FASTag that was granted three to five years ago by this date.
Will all FASTags need to follow this process?
All FASTags issued between three to five years ago must complete updated KYC procedures. Additionally, FASTags older than five years must be replaced entirely. From August 1, all FASTags must be linked to the vehicle’s registration number and chassis number. Moreover, new vehicle owners are required to update their registration number within 90 days of purchase.
What are additional measures taken for FASTag providers?
FASTag providers now have to implement several additional measures: verify and update their databases with accurate vehicle information, upload clear images of the vehicle’s front and side for easier identification and ensure each FASTag is connected to a mobile number.
What you need to do with respect to your FASTag?
Vehicle owners should do this in order to ensure compliance:
1. Check the issuance date of your FASTag.
2. If your tag is between 3-5 years old, complete the KYC update before October 31.
3. Replace tags older than 5 years.
4. Ensure your FASTag is linked to your vehicle’s registration and chassis numbers.
5. New vehicle owners should update their registration details within 90 days.