Why is FASTag KYC necessary?

As per the Reserve Bank of India (RBI) rule, NHAI has implemented the ‘one vehicle, one FASTag’ rule to prevent the use of multiple FASTags for a vehicle. The initiative is aimed at making the toll collection system more efficient and reducing delays at toll plazas.

How to update FASTag KYC?

These steps can be followed to keep your FASTag functioning smoothly.

• Go to NHAI FASTag portal .
• Login using your registered mobile number and OTP.
• Go to “My Profile” section.
• Select the “KYC” tab and update your information.

KYC for FASTag issued by banks

• Go to NETC FASTag website .
• Select your FASTag issuing bank from the list.
• Login to your bank’s FASTag portal.
• Update your KYC details online.

What is FASTag

FASTag uses Radio Frequency Identification (RFID) technology, enabling toll payments directly from your linked account. The FASTag sticker is affixed on the windscreen of the vehicle so that the toll is deducted automatically. To avoid any inconvenience in travel, please update your FASTag KYC before March 31, 2025.

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One Vehicle, One FASTag Rules: The National Highway Authority of India (NHAI) has implemented the ‘One Vehicle, One FASTag’ rule from April 1, after which the same FASTag cannot be used for multiple vehicles. Through this rule, misuse of FASTags will be prevented as every vehicle will now be linked to an active FASTag.

What if multiple FASTags are active in a vehicle?

If a vehicle has multiple FASTags, only the most recently received FASTag will be activated. All other FASTags will be deactivated.

How to recharge your FASTag?

Vehicle owners can recharge their FASTag through any bank or through various payment methods including BBPS, UPI and net banking.

How to check Fastag status?

If you want to know the status of FASTags related to your vehicle, then information about what you have to do for this is given below.

1. Go to the official website https://www.npci.org.in/what-we-do/netc-fastag/check-your-netc-fastag-st…

2. Enter your vehicle details and hit ‘Submit’.

3. You can then review the status information provided for each FASTag associated or linked to your vehicle.

What if FASTag KYC is not completed?

If your FASTag KYC is incomplete, notifications regarding the same are sent via email, SMS or the bank’s app. To

update your KYC, you can do so in these ways

For NHAI Fastag: Visit https://fastag.ihmcl.com, login and update your KYC online.

For Bank Issued Fastag: Visit https://www.netc.org.in/request-for-netc-fastag, select your issuing bank and update your KYC online.

If you do not get any notification for incomplete KYC then it means it is fine.

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The fourth month of 2024, April (April 2024), has started from today. The new financial year also starts from April itself. This means that the financial year 2024-25 (FY25) hasRules Change From 1 April 2024: Rules related to LPG cylinder and tax have changed from today, check the list here started from today.

Many financial rules change at the beginning of every month. Even today many financial rules have changed. These rules have a direct impact on the general public.

Changes in these rules
PF Account Transfer: Whenever we changed jobs, we had to transfer our PF account also, but from today there have been changes in the rules for PF account transfer. Employees’ Provident Fund Organization (EPFO) said that from April 2024, PF account will be transferred automatically. This means that now the user will not have to request for account transfer.

Tax Regime: If you had not selected the tax regime by March 31, 2024, then let us tell you that the New Tax Regime has become the default regime from April 1, 2024. This means that taxpayers who have not selected the tax regime will now automatically file ITR under the new tax regime.

Fastag KYC: Those Fastag users who have not yet done Fastag KYC, their Fastag has become inactive from today. This means that he will not be able to pay toll tax through Fastag.

Actually, NHAI had made Fastag KYC mandatory. The deadline for Fastag KYC was fixed as 31 March 2024.

NPS Account Log-in Process: From today the log-in process of NPS Account is different. PFRDA has made Aadhaar-Based Authentication mandatory for login. This means that now the user will have to enter the OTP received on the mobile number linked to Aadhaar along with the ID password.

LPG Cylinder Price: Oil companies have updated the prices of LPG Cylinder today. Before the elections, a reduction of Rs 32 has been announced in the price of commercial LPG cylinder.

From today, the price of 19 kg commercial LPG cylinder in the capital Delhi became Rs 1764.50. At the same time, its price has become Rs 1,879 in Kolkata, Rs 1717.50 in Mumbai and Rs 1,930.00 in Chennai. Let us tell you that there has been no change in the price of domestic cylinder.

SBI Credit Card Maintenance Charges: The maintenance charges of State Bank of India (SBI) credit cards have increased from today. At the same time, reward points on rent payment on the card have also stopped from today. This means that now if users make rent payment through credit card, they will not get any reward points.

Change in the rules of insurance surrender: From today, changes have been seen in the insurance sector also. Now the value received on policy surrender will depend on how many years the user is requesting for policy surrender.

Increase in prices of medicines: Some medicines have also become expensive from today. Drug price regulator National List of Essential Medicines (NLEM) has announced increase in the prices of many medicines.

PAN-Aadhaar Link: Those users who have not linked PAN Card with Aadhar Card till 31st March, their PAN card has become in-active from today. Now to activate PAN card, it will have to be linked to Aadhar card. For this a penalty of Rs 1,000 will have to be paid.

Cars have become expensive: If you are thinking of buying a car, then let us tell you that from today some vehicles of Kia Motors and Toyota have become expensive. The company had told last month itself that the prices of vehicles will increase from April 1, 2024. The company had taken this decision due to increasing supply chain cost.

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New Rules from 1st April 2024: The new financial year is starting with April. Along with this, new rules and regulations are going to be implemented. There are many changes related to your money, which will come into effect from April 1, so you will get the list of each change here. These changes include many rules related to PAN-Aadhaar Linking, FASTag KYC, NPS Account, Credit Card, Debit Card. Let us know.

1. NPS Account

Pension regulator Pension Fund Regulatory and Development Authority (PFRDA) has added a new step on login for the security of NPS accounts. Now two-factor Aadhaar based authentication will be mandatory for subscribers to access the CRA system and for password based users. After the implementation of this new security protocol, NPS Subscribers can now login to their account by simply authenticating their account with Aadhaar and entering the OTP received on their registered mobile number.

2. IRDAI Policy Surrender Value

New rules on policy surrender are also coming for insurance customers from April 1. Now under the new rules, the policy surrender value will be decided by the policy surrender period. That means, the longer the policy surrender period, the higher the surrender value. The surrender value is reduced if the policy is surrendered within three years.

3. E-Insurance

Another rule of IRDAI is coming into effect from April 1. From this day onwards it will be necessary for every policy to have a digitized format. That is, after opening the policy, the e-insurance account of the policyholder will be opened. This will make it easier for customers to manage and operate their policies.

4. FASTag KYC

According to the instructions so far, such Fastag accounts and devices will be declared invalid from April 1, 2024, if the KYC details will not be updated. Fastag KYC is mandatory from April 1, failing which the bank will deactivate the account.

5. SBI Credit Card

SBI Card has changed the rules of reward points on some of its cards. If users make rent payment through some cards including AURUM, SBI Card Elite, SBI Card Elite Advantage, SBI Card Pulse and SimplyCLICK SBI Card, then they will not get reward points on it from April 1.

6. YES Bank Credit Card

Yes Bank customers who spend Rs 10,000 on the card in a calendar quarter will be eligible for complimentary domestic lounge access from April 1.

7. ICICI Bank Credit Card

ICICI Bank has also increased the benefits on lounge access. Users can get a complimentary airport lounge access by spending Rs 35,000 in the previous calendar quarter. Spending in the previous calendar quarter will unlock access for the next calendar quarter. To be eligible for complimentary airport lounge access in the April-May-June 2024 quarter, you will have to spend a minimum of Rs 35,000 in the January-February-March 2024 quarter and so on for the remaining quarters.

8. Ola Money Wallet

Ola Money is switching to Small PPI i.e. Small Prepaid Payment Instrument Wallet. With this, from April 1, you will be able to deposit only Rs 10,000 per month in the wallet.

9. PAN-Aadhaar Link

According to the information available so far, the last date for linking PAN with Aadhaar is March 31. If any PAN cardholder does not link his PAN with Aadhaar, his PAN will become inactive.

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Rules change from 1 April 2024: The new business year will start from 1 April 2024. With the beginning of the new business year and the fourth month of 2024, there will be changes in many financial rules.

Let us tell you that many financial rules change at the beginning of every month. These financial rules have a direct impact on the general public. Today we will tell you which financial rules are changing from April 2024.

Fastag KYC is mandatory

The rules related to Fastag are changing from April 1, 2024. If you do not update Fastag KYC by March 31, 2024, you may face problems from next month.

Actually, the bank will deactivate Fastag without KYC. This means that even if there is balance in Fastag, payment will not be made through it. NHAI has made Fastag KYC mandatory.

PAN-Aadhaar link

It has been made mandatory to link PAN Card with Aadhaar Card. The deadline for linking PAN with Aadhaar (Pan-Aadhaar Link) is 31 March 2024. If PAN is not linked to Aadhar card then the PAN number will be cancelled.

That means PAN will not be used as a document. For linking PAN with Aadhaar after April 1, the user will have to pay a penalty of Rs 1,000. To avoid penalty, the user should link his PAN card with Aadhaar by March 31, 2024.

EPFO’s new rule

EPFO rules are also going to change from April 1, 2024. Actually, Employees Provident Fund Organization is going to implement the new rule from next month. According to this rule, now after changing job, the PF account will be transferred in auto mode.

This means that now the user will not need to give a request to transfer the account. After the implementation of this rule, the problems of the users will be reduced to some extent.

SBI Credit Card

Those users who have SBI Credit Card, let them know that there is going to be a change in the rules of Credit Card from April 1, 2024.

If you make rent payment through SBI credit card, then let us tell you that from April 1, you will not be given any reward point on rent payment. This rule will be valid on some credit cards from April 1, while on others it will be applicable from April 15, 2024 onwards.

LPG gas price

LPG Cylinder Price is updated across the country on the first of every month. LPG prices will also be updated on April 1, 2024.

However, the possibility of change in their prices between Loksabha Election 2024 is very less.

New tax regime

If the taxpayer has not yet selected the tax regime, then he has only a few days left. Actually, from April 1, 2024, the new tax regime will become the default tax regime.

That means the taxpayer will automatically have to pay tax as per the rules of the new tax system.

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FASTag KYC Update: It is necessary for every Fastag user to update the KYC of the Fastag issued for toll collection. NHAI (National Highways Authority of India) had also extended the deadline for this. Now the last date to do this is March 31, 2024. So if you have also not updated Fastag KYC on your vehicle, then you have to update the KYC details of your card immediately.

What is FASTag?

Whenever you pass through a toll plaza on any highway, you have to pay toll tax for it. Earlier there used to be long queues at toll plazas, to solve this the government had started the facility of Fastag. This is a type of electronic toll collection. Fastag is a radio frequency identification tag, which is pasted on the windscreen of the vehicle. It is linked to a prepaid account, so that whenever you pass through a toll plaza, you do not have to stop there and the device installed at the toll immediately scans this card and the toll is automatically deducted. According to the government order, Fastag should be installed on every four-wheeler and larger vehicles in the country.

How to update FASTag KYC?

FASTag KYC can be updated in many ways. It can be updated from Fastag portal or bank portal.

1. How to update FASTag KYC on FASTag portal

Follow these steps to update FASTag KYC on FASTag portal.

Step 1: Visit the official FASTag portal https://fastag.ihmcl.com

Step 2: Log in using your mobile number and one time password (OTP).

Step 3: On the homepage, look for the “My Profile” tab and click on the KYC tab.

Step 4: Carry your vehicle registration certificate, driving license, address proof, ID proof and a photograph.

Step 5: Fill all the necessary information and update it.

2. Steps to update FASTag KYC on bank portal

Follow these simple steps to update FASTag KYC on your bank/issuing authority portal.

Step 1: Visit the official website of the bank/issuing authority that issued your FASTag.

Step 2: Log in to the bank’s website with your credentials.

Step 3: Once logged in, look for the FASTag segment and then go to the KYC section.

Step 4: Carry your vehicle registration certificate, driving license, address proof, ID proof and a photograph.

Step 5: Fill all the necessary information and update it.

How to know whether FASTag KYC is complete or not? (How to check FASTag KYC Status)
If your FASTag KYC is incomplete, you will be notified via email, SMS or the application interface of the issuing bank regarding incomplete KYC. Keep an eye on your registered number or platform like SMS, e-mail etc. for updates. And if you have not received any notification from your bank regarding updation, then it means that your KYC has been completed and there is nothing to be done from your side.

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FASTag: Only two days are left for National Highways Authority of India (NHAI) Fastag customers to update their Fastag KYC. The work of updating KYC is now to be completed by 29 February 2024. Earlier this deadline was till 31 January 2024 which was extended. KYC updating can be done online.

What is FASTag?

It is an electronic method of collecting toll on highways which simplifies tax payment at toll plazas. It keeps an eye on moving vehicles. Money is deducted using RFID technology from the tag installed on the windscreen of the car linked to the bank account or prepaid card. When a car fitted with Fastag approaches a toll booth, the system scans the tag and deducts the toll directly from the card or account linked to it.

How to do KYC Fastag online?

• Go to the Fastag website linked to the bank.
• Log in using registered mobile number and enter OTP received.
• Go to ‘My Profile’ section and click on ‘KYC’ tab.
• After filling the required information, click on ‘Submit’.
• These documents will be required for FASTag KYC
• These documents will be required to verify KYC for Fastag
• RC of the car
• id proof
• Address proof
• One passport size photo
• Passport, Voter ID card, Aadhar card, driving license or PAN card can be used for ID and address proof.

How to check Fastag status?

• Visit fastag.ihmcl.com.
• Click on the login button on the home page.
• Log in with the registered mobile number where you will get an OTP.
• Click on ‘My Profile’ section on the homepage.
• Click on ‘KYC Status’.
• Here you will see the status.

KYC can be done offline

First of all go to the branch of the bank that has issued your FASTag. The bank will give you KYC form, fill it and submit it. Apart from filling this form, you will also have to submit documents. After submitting this form, the bank will verify the KYC details and update your FASTag.

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The work of updating KYC is to be completed today by 31 January 2024. However, this deadline has not been extended yet. If you do not do this then your Fastag will be blacklisted. You will not be able to use your balance amount. The good thing is that the work of updating KYC can be done online.

How to update KYC Fastag?

• Go to the Fastag website linked to the bank.
• Log in using registered mobile number and enter OTP received.
• Go to ‘My Profile’ section and click on ‘KYC’ tab.
• After filling the required information, click on ‘Submit’.

These documents will be required for FASTag KYC

• These documents will be required to verify KYC for Fastag
• car rc
• id proof
• Address proof
• One passport size photo
• Passport, Voter ID card, Aadhar card, driving license or PAN card can be used for ID and address proof.

How to check Fastag status?

• Visit fastag.ihmcl.com.
• Click on the login button on the home page.
• Log in with the registered mobile number where you will get an OTP.
• Click on ‘My Profile’ section on the homepage.
• Click on ‘KYC Status’.
• Here you will see the status.

KYC can be done offline

First of all go to the branch of the bank that has issued your FASTag. The bank will give you KYC form, fill it and submit it. Apart from filling this form, you will also have to submit documents. After submitting this form, the bank will verify the KYC details and update your FASTag.

You can call here

If you have any queries related to FASTag, you can talk to NHAI representatives on the toll-free helpline 1033. NHAI FASTags can be purchased at most toll plazas. After getting FASTag, you can link it to your bank account and then replenish the balance. You can refill Fastag with Rs 100 and a maximum of Rs 1 lakh.

FasTag started to eliminate traffic on tolls

NHAI had launched the “One Vehicle, One FASTag” campaign. Fastag is linked to the car. Many times multiple vehicles use one Fastag. According to PIB on January 15, 2024, the objective of this program is to improve the electronic toll collection system and maintain the flow of traffic at toll plazas.

Many reports like issuance of multiple FASTags for the same vehicle and issuance of FASTags without KYC came to light, after which NHAI had to initiate this action. Additionally, there are instances where FASTags are deliberately removed from vehicle windscreens, causing unnecessary delays at toll booths and causing inconvenience to other drivers on national highways.

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About 70 percent of Fastag holders of Ghaziabad have got KYC done, but still 30 percent of Fastag holders have not been KYCed. NHAI Project Director Arvind Kumar says that there are still 2 days left. In this, drivers should get their Fastag KYC done, so that they can avoid paying double toll tax.

Fastag users will have to follow the one vehicle, one Fastag policy. All previously issued Fastags will have to be returned to the respective banks. Now only new Fastag accounts will remain active. He said that one vehicle, one Fastag campaign has been started to reduce the waiting time of toll plazas and bring transparency in collecting toll through Fastag. NHAI has taken this initiative in response to recent reports of issuing multiple Fastags for one vehicle and issuing Fastags without KYC in violation of RBI norms.

Problems faced by old vehicle drivers

Fastag is available only on new vehicles from the agency, but in the old vehicles, Fastag has been installed from the bank. Some drivers do not put Fastag on the windscreen but keep it on the dashboard. Then they move ahead after showing when the toll comes. A Fastag is used in this way in many vehicles. Also, multiple Fastags are issued on the same vehicle. If any crime happens then it becomes difficult to catch it. Now if a vehicle has a Fastag, the vehicle will be completely identified when it passes through the toll.

Update KYC like this

Go to the website of the bank from which you have taken Fastag. Then login with your mobile number. Then go to My Profile section and click on KYC. Fill the other details including address proof in it. In this way KYC will be updated. If you want to check the status of your Fastag, then apart from the bank’s website, you can check by visiting fastag.ihmcl.com.

These documents will be needed

To update KYC, vehicle registration certificate, ID proof, address proof, a passport size photo will have to be uploaded. Passport, Voter ID card, Aadhar card, driving license and PAN card can be used as ID and address proof.

Problems will increase at toll plaza from February 1

Due to people whose KYC of Fastag is not updated, problems will increase at toll plaza from February 1. Double toll will be collected from them. NHAI is fully alert to ensure that there is no dispute. Police force can also be deployed at toll to prevent disputes.

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