 "Fastag")
The NHAI said that the users are also required to discard their earlier issued FASTags and keep just the latest one.
The National Highways Authority of India (NHAI), on Monday, announced that the FASTags with incomplete KYC will get deactivated by banks post January 31, 2024, even if they have unused valid balances.
The development follows as the state-owned body has taken the ‘One Vehicle, One FASTag’ initiative in a bid to discourage linking multiple FASTags to a particular vehicle or using a single FASTag for several vehicles.
According to the NHAI, the users are also required to discard their earlier issued FASTags. “Only the latest FASTag account shall remain active as previous tags will be deactivated/blacklisted after January 31 2024,” an official statement said.
FASTag, operated by the NHAI, is an electronic toll collection system in India that uses Radio Frequency Identification technology to make toll payments directly through the linked bank account of the user.
Meanwhile, KYC, or Know Your Client, is an onboarding process that allows entities to identify and verify their customers. This process helps entities to reduce the risk of fraud by ensuring secure transactions.
How to update FASTag KYC
FASTag KYCs can be updated either digitally or by physically visiting the respective banks where they were issued.
Step for offline FASTag KYC update:
1)The customers can visit their FASTag issuing bank’s nearest branch and request a form to update their KYC.
2)They can fill out the forms with all the updated information and submit them to the bank, which, in turn, will update the new information in the FASTag account.
3)According to the Reserve Bank of India’s guidelines, one of the following documents are needed to complete the KYC process: Valid passport, driving licence, voter’s ID, Permanent Account Number (PAN), Aadhaar card, or the job card issued by the NREGA and signed by an official of the state government.
4)Additionally, the customers are also required to submit their vehicle’s registration certificate (RC) copy.
Steps for online FASTag KYC update:
1)The customers are required to visit ‘https://fastag.ihmcl.com’ and log in to their account using their registered mobile number and password. They can also use the ‘one-time password’ method to complete the login process.
2)The customers then need to go to ‘My Profile’ from the menu on the dashboard. Here, they can check their KYC states.
3)To make an update, they need to click on ‘KYC’ and select ‘Customer Type’ and fill out the information and submit the relevant documents to initiate the process.
4)The update will take seven days to complete from the date of submission.
A key thing to note in the case of online FASTag updates is that these are applicable to NHAI FASTags. The NHAI FASTags can be purchased online, at toll plazas, petrol pumps and they are not linked to any bank. “You can initiate the process of linking a bank account to the FASTag prepaid wallet after obtaining the tag,” the HDFC Bank explains.
First Published: Jan 16 2024 | 4:55 PM IS
