If you have not updated the KYC of your car’s Fastag from the bank, then get it done today. Because after March 31, banks will deactivate or blacklist Fastag without KYC. After this, payment will not be made despite having balance in Fastag. NHAI has asked Fastag customers to complete the KYC process for Fastag as per the rules of the Reserve Bank of India (RBI), so that the Fastag facility can be provided without any hassle. Only one Fastag will work in one vehicle. Customers will now be able to use only one Fastag in one vehicle. According to NHAI, Fastag users will have to follow the ‘one vehicle, one Fastag’ policy and return all previously issued Fastags to their respective banks. Now only new Fastag accounts will remain active. NHAI has launched ‘One Vehicle, One Fastag’ campaign to bring transparency and reduce the waiting time at toll plazas for collecting toll through Fastag. NHAI is said to have taken this initiative in response to recent reports of issuing multiple Fastags for one vehicle and Fastags being issued without KYC in violation of RBI rules. What is Fastag? Fastag is a type of tag or sticker. It is installed on the windscreen of the vehicle. Fastag works on Radio Frequency Identification or RFID technology. Through this technology, the cameras installed at the toll plaza scan the bar-code of the sticker and the toll fee is automatically deducted from the Fastag wallet. By using Fastag, the driver does not have to stop to pay toll tax. It is used to reduce time taken at toll plazas and make travel easier. You can buy Fastag from banks and online platforms. You can buy Fastag from any toll plaza in the country. Apart from this, you can also buy it from the branches of Axis Bank, ICICI Bank, HDFC Bank, SBI, Kotak Bank. You can also buy it from online platforms like Paytm, Amazon, Google Pay. You can also make payment by linking your Fastag account to this app. If you want, you can link your bank account to this app. With this, whenever you pass through any toll plaza, toll tax will be deducted from your account. While buying Fastag, you must have ID proof and vehicle registration document. Fastag sticker is valid for 5 years, after this the validity will have to be increased. Fastag sticker once purchased is valid for 5 years. That means after 5 years you have to change the sticker or extend its validity.
