FASTags replace: Indian Highways Management Company, an arm of state-owned NHAI, will lengthen the KYC compliance deadline for FASTags by one month, a senior authorities official stated right this moment (January 31). Earlier on January 15, the National Highways Authority of India (NHAI) stated FASTags with legitimate balances however incomplete KYC will get deactivated by banks post-January 31, 2024.
“Only 7 lakh multiple FASTags have been closed out of 1.27 crore. Hence, we are proceeding with extending the deadline by another one month,” the official informed media on the situation of anonymity.
To improve the effectivity of the digital toll assortment system and supply seamless motion at toll plazas, it has taken the ‘One Vehicle, One FASTag’ initiative that goals to discourage using single FASTag for a number of autos or linking a number of FASTags to a selected car, NHAI had stated earlier this month.
The state-owned company additionally stated it’s encouraging FASTag customers to finish the ‘Know Your Customer’ (KYC) strategy of their newest FASTag by updating KYC as per RBI tips. With a penetration price of round 98 per cent and over 8 crore customers, FASTag has revolutionised the digital toll assortment system within the nation.
FASTag is an digital toll assortment system in India, operated by the NHAI. It employs Radio Frequency Identification (RFID) expertise for making toll funds immediately from the pay as you go or financial savings account linked to it or immediately toll proprietor.
(With PTI inputs)Â
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