FASTags has been common now in India. The digitization of toll collections through FASTags has prompted the central government to set a deadline of january 31 for updating these electronic toll collection devices. Emphasizing the importance of completing Know Your customer (KYC) procedures, the government has announced that FASTags failing to undergo KYC by the specified deadline will face deactivation and transaction blocking by banks, specifically by the National Highways Authority of india (NHAI).
In a bid to curb misuse, it has been observed that certain individuals are not affixing FASTags to the front of their vehicles, while others exploit these wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital toll collection devices across multiple vehicles. Additionally, instances have been detected where multiple FASTags are linked to a single vehicle. To address such irregularities, the government is moving towards implementing a policy of one FASTag per vehicle.
Banks are urged to proactively engage with customers to ensure the completion of KYCs for their FASTags. Neglecting the KYC update may result in banks deactivating even those FASTags with sufficient balances. It is essential for users to promptly verify whether their FASTAG KYCs are completed to avoid potential inconvenience and disruptions in electronic toll transactions after the january 31 deadline.
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