State-owned National Highways Authority of India on Wednesday extended the KYC compliance deadline for FASTags till Feb. 29.
On Jan. 15, the National Highways Authority of India said FASTags with valid balances but incomplete KYC will get deactivated by banks post-Jan. 31, 2024.
"Attention #FASTag users! The deadline for #OneVehicleOneFASTag initiative and completing KYC updation for your latest FASTag has been extended till Feb. 29, 2024," NHAI said in a post on X.
To enhance the efficiency of the electronic toll collection system and provide seamless movement at toll plazas, the authority has taken the 'One Vehicle, One FASTag' initiative that aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle, NHAI had said earlier this month.
"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," an official told PTI on the condition of anonymity.
The state-owned agency also said it is encouraging FASTag users to complete the 'Know Your Customer' (KYC) process of their latest FASTag by updating KYC as per RBI guidelines.
With a penetration rate of around 98% and over 8 crore users, FASTag has revolutionised the electronic toll collection system in the country.
FASTag is an electronic toll collection system in India, operated by the NHAI. It employs Radio Frequency Identification technology for making toll payments directly from the prepaid or savings account linked to it or directly toll owner.
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