Starting August 1, 2024, the National Payments Corporation of India (NPCI) is implementing new KYC (Know Your Customer) requirements for FASTag users. These changes will affect all FASTags issued 3 to 5 years ago, which must undergo the KYC process by October 31, 2024.
Under the new rules, all FASTag service providers are mandated to complete the KYC process for older tags by the deadline. Additionally, FASTags older than 5 years will need to be replaced. Each FASTag must be linked to both the vehicle registration number (VRN) and the chassis number. Ensuring that KYC information is current is crucial to avoid service disruptions.
The updated KYC rules stipulate that from August 1, 2024, all newly issued FASTags will require adherence to these guidelines. Each tag will be linked to a mobile number, and proper KYC verification must be conducted. Additionally, every FASTag will be uniquely identified by the vehicle registration number and the chassis number. For new vehicles without a VRN, the chassis number will be mandatory.
It is essential for FASTag users to complete their KYC process within the specified timeframe to prevent their tags from being deactivated. This initiative by NPCI aims to enhance the security and efficiency of FASTag usage nationwide. Users must also update their VRN within 90 days; failure to do so will result in the issuer hotlisting the tag. If the VRN is not updated within 30 days of hotlisting, the tag may be deactivated. Verification will be conducted through the VAHAN database or the issuer’s records.
by Dailybharat
