How to update FASTag KYC before 29th February Money Inflow

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Know everything about your FASTag ?

We all have seen a tag sticker that is attached to the windscreen of the vehicle. When a FASTag-attached vehicle approaches a toll plaza, RFID scanner at the plaza identifies the tag and deducts toll tax from the FASTag.

Fastag

You will be restricted from recharging the wallet if you have not upgraded your KYC post 2 years of completion as a Non-KYC wallet customer. But you will be able to use the existing balance for toll transactions till your tags are marked “Low Balance” and blocked from using further.

FASTag has unlimited validity. The same FASTag can be used till the tag is read by the reader and not tampered with. In case due to wear and tear the reading quality depreciates, please reach out to your Issuing Bank for a new tag.

You may recharge your TAG account by making payment online through Debit Card, Credit, Net Banking & other online payment modes. The TAG account can be recharged upto₹ 1,00,000.00 for Full KYC accounts and ₹ 10,000 for Limited-KYC accounts. You may also recharge your TAG account at anyPoS locations near Toll Plazas by paying cash.

One can use one FASTag for one vehicles. One FASTag can’t be used for two vehicles. You will need to take two separate FASTags for the each vehicle.

In case of loss of the FASTag , Please You call our customer care number to block your FASTag. Once you take a new tag, your balance will be transferred to the new tag.

1. Why NHAI wants to deactivate

The National Highway Authority of India (NHAI) has announced that all FASTags with incomplete Know Your Customer (KYC) will be deactivated or blacklisted by the issuing banks after January 31 (extended to February 29, 2024 now) even if having enough balance. The initiative aims to discourage the use of a single FASTag for several vehicles or linking multiple electronic toll collection tools to a single vehicle.

The NHAI said the initiative followed recent reports of multiple FASTags being issued for a single vehicle and also a number of FASTags being issued without KYC in violation of RBI’s mandate. Around seven crore FASTags are issued but only four crores seem to be active and there are 1.2 crore FASTags which are duplicates

media reports said.

The highway authority asked the users to comply with ‘One Vehicle, One FASTag’ and discard all the earlier issued FASTags through their respective banks. Only the latest FASTag account shall remain active as previous tags will be deactivated/blacklisted after 31st January 2024 (extended to February 29, 2024 now),” the NHAI said in a statement. To avoid inconvenience, the NHAI further asked the users to make sure that the KYC of their latest FASTag is complete and if not, complete it by January 31 (extended to February 29, 2024 now) to avoid deactivation or blacklisting

2. How to check your FASTag KYC Status

To check the status of FASTag, users can visit a dedicated website: fastag.ihmcl.com
Click the “Login” tab at the right top of the website.
Provide details like registered mobile number and password.
Authorisation will be done through OTP.
After logging in, click the “My Profile” section on the dashboard
In the “My Profile” section you will get the KYC status of your FASTag and also the profile details submitted during the registration process.

3. List of the documents required if FASTag KYC is due to update?

As per RBI guidelines, the FASTag KYC update requires any of the following documents:

1. Registration certificate of the vehicle
2. Identity proof
3. Address proof
4. A passport-size photo
Passport, Voter’s ID, Aadhar Card, Driving licence, PAN card and NREGA Job card (signed by a State Government official) can be used as identity and address proof

4. How to update FASTag KYC online?

Visit the FASTag dedicated website: fastag.ihmcl.com
Go to the “My Profile” section,
Open the sub-section called “KYC” and update your required details.
Fill in the various fields by submitting the required identity and address proof documents.
Upload a passport-sized photo
Check and confirm the declaration
Click the submit button
The KYC verification process will be completed by submitting the required documents.
Your KYC will be processed in a maximum of seven working days from the date of submission of your request for a KYC upgrade

Also Read : Best Personal Finance Blogs in India


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