Fastag with out KYC can be closed from March 1: Banks will deactivate or blacklist, see the entire strategy of doing KYC right here

You probably have not up to date the KYC of your automotive’s Fastag from the financial institution, then get it achieved by immediately itself. As a result of after February 29, banks will deactivate or blacklist Fastag with out KYC. After this, fee is not going to be made regardless of having steadiness in Fastag.

NHAI has requested Fastag prospects to finish the KYC course of for Fastag as per the foundations of the Reserve Financial institution of India (RBI), in order that the Fastag facility may be offered with none trouble.

Just one fastag will work in a single car
Clients will now have the ability to use just one Fastag in a single car. NHAI mentioned in its assertion that Fastag customers should comply with the ‘one car, one Fastag’ coverage and return all beforehand issued Fastags to their respective banks. Now solely new Fastag accounts will stay lively.

NHAI has launched ‘One Automobile, One Fastag’ marketing campaign to convey transparency and scale back the ready time at toll plazas for accumulating toll by Fastag. NHAI is alleged to have taken this initiative in response to latest experiences of issuing a number of Fastags for one car and Fastags being issued with out KYC in violation of RBI guidelines.

What’s Fastag?
Fastag is a kind of tag or sticker. It’s put in on the windscreen of the car. Fastag works on Radio Frequency Identification or RFID expertise. By this expertise, the cameras put in on the toll plaza scan the bar-code of the sticker and the toll charge is mechanically deducted from the Fastag pockets.

Through the use of Fastag, the driving force doesn’t need to cease to pay toll tax. It’s used to scale back time taken at toll plazas and make journey simpler.

These figures are until Might 2023.

You should purchase Fastag from banks and on-line platforms
You should purchase Fastag from any toll plaza within the nation. Other than this, you can too purchase it from the branches of Axis Financial institution, ICICI Financial institution, HDFC Financial institution, SBI, Kotak Financial institution. You can even purchase it from on-line platforms like Paytm, Amazon, Google Pay. You can even make fee by linking your Fastag account to this app.

In order for you, you’ll be able to hyperlink your checking account to this app. With this, everytime you cross by any toll plaza, toll tax can be deducted out of your account. Whereas shopping for Fastag, you have to have ID proof and car registration doc.

Fastag sticker is legitimate for five years, after this the validity should be elevated.
Fastag sticker as soon as bought is legitimate for five years. Meaning after 5 years it’s a must to change the sticker or prolong its validity.