Tuesday, April 16, 2024

Beginning on January 31, FASTags without KYC will be blocked!

The National Highways Authority of India (NHAI) is introducing a new program called “One Vehicle, One FASTag” to facilitate the easy collection of vehicle toll taxes and to ease traffic congestion at toll booths. It follows that a single FASTag card may only be used on a single vehicle and cannot be used for more than one. For this program to be successful, the Bank of India (RBI) has created guidelines for FASTag users to follow when completing the “Know Your Customer” (KYC) portion of their cards. It is significant to remember that after January 31, banks will deactivate or block FASTags with an adequate balance but insufficient KYC.

FASTags

You must finish Know Your Customer (KYC)

Use your most recent FASTag and use only one FASTag per car to avoid problems at toll plazas. Put away any outdated FASTags and dispose of them via the bank. You can only use your most recent FASTag. Reach out to the toll plaza or give your bank’s toll-free customer service number a call if you need assistance.

FASTags

CURRENT TRENDS

To use various services, like FASTag, KYC is required. This allows these businesses to identify you and your true name, which ensures the security of all transactions. Update any changes to your name, address, or other information as soon as possible.

FASTags

Which documents are needed to update FASTag’s KYC?

The Reserve Bank of India (RBI) has indicated that you will need to present one of the following legitimate forms of identification. PAN card, voter ID card, Aadhar card, and NRG card endorsed by a state government authority. Apart from this, you will also have to present a copy of the Registration Certificate (RC) of your vehicle.

FASTagsSimple step-by-step instructions for updating your FASTag’s KYC:

1. Get in touch with the bank that provided your FASTag.
2: Visit the closest bank location.
3. Fill out the KYC updating form.
4: Complete the form.
5- Submit the form.

Read More: Apply Online for PM Ujjwala Yojana 2024! this is the process

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