Highlights-
● Why the KYC update?
● What if KYC is not done?
● How to do KYC
● Avoid the rush
Attention all FASTag users! If you haven’t yet completed your KYC (Know Your Customer)
update, listen up! Your FASTag will be deactivated after January 31, 2024, leading to
potential delays and inconvenience at toll plazas. Don’t wait until the last minute – take
action now to keep your tolls flowing smoothly. According to an order issued by the National
Highways Authority of India (NHAI) on Monday, users will have to follow the one vehicle,
one FASTag policy and delete all FASTags issued more than once by their banks earlier.
More than eight crore drivers across the country are using FASTag, which is about 98%
of the total number of vehicles. This system has greatly increased the speed of the
electronic toll collection system in the country.
Why the KYC update?
The KYC update is mandatory for all FASTag users, as per RBI regulations. It helps verify
your identity and prevent misuse of the system. With updated KYC information, authorities
can better track transactions and combat illegal activities.
What happens if I don’t update my KYC?
Come February 1st, any FASTag without updated KYC will be deactivated. This means
you’ll face the hassle of stopping at cash lanes at toll plazas, adding time and frustration to
your journeys.
How to update your KYC
The good news is, that updating your KYC is a simple process. Choose from these options:
Through your FASTag issuing bank’s website or app -Most banks allow online KYC
updates. Simply log in, locate the FASTag section, and follow the instructions.
Visit your bank branch – If you prefer face-to-face assistance, head to your bank
branch and request a FASTag KYC update. Ensure you carry valid identity documents like an Aadhaar card, PAN card, etc.
Use the MyFASTag app: Download the MyFASTag app to access KYC update
options on your mobile device.
Avoid the rush!
With January 31st approaching, don’t wait until the last minute to update your KYC. Start the process today to avoid long queues at banks and potential frustration at toll booths. Remember, a few minutes invested now can save you hours of inconvenience later. Check the website or app of your FASTag issuing bank for specific KYC update instructions. Ensure your bank account linked to the FASTag has sufficient funds to avoid automatic deductions being declined due to KYC issues. Spread the word! Inform your friends and family who use FASTag about the mandatory KYC update to avoid disruptions to their travel plans. Don’t get caught off guard by a deactivated FASTag. Update your KYC today and keep your toll plaza experience smooth and seamless!
