New Delhi: The Indian Highways Management Company, a subsidiary of the National Highways Authority of India (NHAI), will prolong the KYC compliance deadline for FASTags by an additional month, a senior government official recently announced.
Earlier this month, on January 15, the NHAI declared that FASTags with valid balances but incomplete KYC would face deactivation by banks after January 31, 2024.
To enhance the efficiency of the electronic toll collection system and ensure smooth traffic flow at toll plazas, NHAI introduced the ‘One Vehicle, One FASTag’ initiative earlier this month. The initiative aims to discourage using a single FASTag for multiple vehicles or linking multiple FASTags to a specific vehicle.
The state-owned agency is also urging FASTag users to complete the ‘Know Your Customer’ (KYC) process for their latest FASTag, aligning with RBI guidelines.
With a penetration rate of approximately 98 per cent and a user base exceeding 8 crores, FASTag has significantly transformed the electronic toll collection system in the country. Operated by NHAI, FASTag utilises Radio Frequency Identification (RFID) technology to facilitate toll payments directly from the linked prepaid or savings account or toll owner.
