As July ends, several new rules are set to come into effect in August, particularly concerning FASTag usage.
The National Payments Corporation of India (NPCI) has issued updated guidelines that FASTag holders need to be aware of.
Although many of these rules are already in place, a significant new requirement regarding the Know Your Customer (KYC) process will start from August 1.
Here’s a detailed look at the changes and what you need to do.
KYC Deadline by October 31
According to NPCI guidelines, companies providing FASTag services must ensure the KYC process for all FASTags issued three and five years ago is completed by October 31.
The process will begin on August 1, and vehicle owners must ensure their FASTags are updated accordingly.
Important Updates for Older Vehicle Owners
From August 1 to October 31, companies must complete the KYC process for FASTags that are three to five years old.
If your FASTag falls into this category, it’s crucial to get your KYC done starting August 1 to comply with the new regulations.
Key Rules Effective from August 1
1) Replacement of 5-Year-Old FASTags: FASTags that are five years old must be replaced.
2) KYC for 3-Year-Old FASTags: The KYC process is mandatory for FASTags that are three years old.
3) Linking Vehicle Details: The vehicle registration number and chassis number must be linked with the FASTag.
4) 90-Day Update for New Vehicles: After purchasing a new vehicle, the registration details must be updated within 90 days.
5) Database Verification: FASTag providing companies are required to verify their databases.
6) Upload Clear Photos: Clear photos of the front and side of the car must be uploaded.
7) Mobile Number Linking: FASTags must be linked to the owner’s mobile number.
8) Completion of KYC Norms: All KYC norms must be fulfilled by October 31, 2024.
By staying informed and completing the necessary updates, FASTag holders can ensure compliance with the new rules and avoid any disruptions in their toll payments.
