Starting from August 1, new regulations concerning Fastag will come into effect. Under these new rules, vehicle owners must upload their vehicle registration number to the Fastag within 90 days of purchasing the vehicle. Failure to update the number within the specified time will result in the Fastag being placed on a hotlist. An additional 30-day grace period will be provided, after which, if the vehicle number is still not updated, the Fastag will be blacklisted. However, there's some relief as Fastag service providers have been given until October 31 to complete KYC (Know Your Customer) processes for all Fastags older than five and three years. The National Payments Corporation of India (NPCI) had issued detailed guidelines in June regarding Fastag, with the date of August 1 set for starting the KYC process. Providers now have until October 31 to meet all requirements.
Key Changes Effective from August 1:
Providers must replace Fastags older than five years.
Fastags older than three years must undergo a KYC process.
Vehicle registration and chassis numbers must be linked to the Fastag.
Vehicle registration numbers must be updated within 90 days of acquiring a new vehicle.
Fastag service providers will verify vehicle databases.
Clear photos of the vehicle’s front and side must be uploaded during KYC.
Linking the Fastag to a mobile number will be mandatory.
Services like apps, WhatsApp, and portals must be provided for KYC verification.
Providers must complete KYC criteria by October 31, 2024.
Fees:
Statement: ₹25 per statement
Tag Deactivation: ₹100
Tag Management: ₹25 per quarter
Negative Balance: ₹25 per quarter
New Deactivation Rule:
Additionally, some Fastag companies have introduced a rule requiring Fastags to remain active. If no transactions occur within three months, the Fastag will be deactivated. Users will then need to reactivate it via the portal, which may be inconvenient for those using their vehicles only for non-toll travel.