FASTag KYC Simplification: NHAI Assigns Complete Verification Responsibility to Banks

FASTag KYC Simplification

FASTag KYC Simplification: The National Highways Authority of India (NHAI) has introduced a significant reform in the FASTag system, bringing welcome relief to vehicle owners across the country. Under the new rule, banks issuing FASTags will now be fully responsible for verifying vehicle details at the time of FASTag activation.

Earlier, vehicle owners were required to complete the Know Your Customer (KYC) process even after submitting valid documents and receiving their FASTag. This additional step often led to activation delays, inconvenience at toll plazas, and issues related to refunds.

With the revised process, separate KYC completion after FASTag issuance is no longer required. Since banks now verify vehicle and owner details before issuing FASTags, activation is expected to be faster and smoother. This move is aimed at reducing operational delays and improving the overall experience for highway users.

Importantly, the relaxation in KYC norms applies not only to newly issued FASTags but also to those already in circulation. As a result, FASTag users will no longer be required to complete KYC unless there is a specific suspicion of fraudulent activity related to FASTag usage.

The new rule is expected to benefit lakhs of vehicle owners nationwide by ensuring seamless toll transactions and quicker FASTag activation.

Share:

Post a comment

Your email address will not be published. Required fields are marked *