New NPCI FASTag rules comes into effective August 1
New NPCI FASTag rules comes into effective August 1
NPCI rolls out fresh guidelines, with a spotlight on KYC requirements.
This system, has become a staple for easing toll payments and reducing traffic snarls at toll plazas, and is getting an overhaul. The National Payments Corporation of India
Kicking-off from August 1, the race against time rolls for companies offering FASTag services. They have until October 31 to complete the KYC for all FASTags issued amid three to five years ago. A customer ensure KYC is up to date within this period to avoid any service disruptions.
The NPCI’s stringent guidelines also mandate that any FASTag older than five years must be replaced, making it imperative for vehicle owners to check their tags’ issuance dates and act promptly.
For those driving older vehicles, these updates are particularly crucial. Between August 1 and October 31, companies are tasked with meeting several NPCI conditions includes updating the KYC for FASTags older than three to five years and replacing those older than five years. Missing these deadlines could lead to significant inconveniences, so staying on top of these changes is vital.
Come August 1, all FASTags must be linked to the vehicle’s registration number and chassis number. For new vehicle owners, there’s an additional requirement: you need to update your registration number within 90 days of purchasing the vehicle. FASTag providers are also required to verify and update their databases meticulously, ensuring that every detail is accurate and up to date.
Moreover, there’s a push for transparency and accountability. Providers must upload clear photos of the vehicle’s front and side, making it easier to identify the car linked to the FASTag. Additionally, each FASTag must be connected to a mobile number, ensuring that communication and updates are seamless.
The deadline for completing all KYC requirements is set for October 31, 2024, but waiting until the last minute could lead to unforeseen issues.
News Edit K.V.Raman
