By Justin | Published | No Comments
Last updated: February 3, 2024 19:20 UTC
The National Highways Authority of India (NHAI) has extended the KYC compliance deadline for FASTag by one month, i.e. February 29, 2024, a senior government official said. Previously, the last date to complete KYC was January 31.
“Out of Rs 127 crore, just over 7 lakh FASTags have been closed. Therefore, we are extending the deadline by one more month,” the official told PTI.
What is FASTag?
This is an electronic system used to collect highway tolls, reducing the tax burden at toll booths while also monitoring moving vehicles. RFID technology is leveraged by attaching tags to car windshields that are linked to bank accounts or prepaid cards.
When a car bearing a FASTag approaches a toll plaza, the system scans the tag and deducts the toll directly from the concerned card or account.
How to update KYC on FASTag?
Documents required for FASTag KYC
Importance of KYC for FASTag
NHAI recently informed that banks will deactivate or blacklist all FASTags whose Know Your Customer (KYC) updates are not completed after January 31, 2024, even if the balance is sufficient.
This measure is a solution to deter deliberate failure to affix FASTags to vehicles, issuance of multiple FASTags for a single vehicle and distribution of FASTags without KYC verification.
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Justin, a prolific blog writer and tech aficionado, holds a Bachelor's degree in Computer Science. Armed with a deep understanding of the digital realm, Justin's journey unfolds through the lens of technology and creative expression.With a B.Tech in Computer Science, Justin navigates the ever-evolving landscape of coding languages and emerging technologies. His blogs seamlessly blend the technical intricacies of the digital world with a touch of creativity, offering readers a unique and insightful perspective.