Starting August 1, new FASTag rules will be implemented to enhance toll payment efficiency and reduce congestion at toll booths.

According to the updated regulations, all FASTag users must complete the Know Your Customer (KYC) process by October 31. This requirement affects FASTags issued between three and five years ago, and companies must ensure that KYC is completed for these tags by the deadline.

The National Payments Corporation of India (NPCI) has introduced these new guidelines, making KYC mandatory. To stay compliant, FASTag users should update their KYC information within this period.

Starting August 1, new FASTag rules will be enforced to streamline toll payments and improve efficiency:

• Replace Old FASTags: FASTags older than 5 years need to be replaced.
• Update KYC for Older FASTags: KYC must be updated for FASTags issued 3 years ago.
• Link Vehicle Details: Ensure your vehicle registration number and chassis number are linked to your FASTag.
• Update Registration for New Vehicles: Update the registration number on your FASTag within 90 days of buying a new vehicle.
• Database Verification: FASTag providers must verify and update their databases.
• Upload Photos: Submit clear photos of your car's front and side.
• Link Mobile Number: Your FASTag must be linked to a mobile number.

Companies must adhere to these new NPCI guidelines, including replacing FASTags older than five years and updating KYC for tags issued between three and five years ago by October 31, 2024. Vehicle owners are also required to complete their KYC by this date.

Also Read: Top High Dividend Paying Stocks to Boost Your Portfolio