News & Top StoriesYour ASTags may be blocked after February 29, 2024, and balance top-ups for those obtained using PayTM will not be possible.
There have been significant developments on two fronts that have put the FASTag—the main way of paying tolls—in the news recently. Two things have happened to FASTags: first, the National Highway Authority of India (NHAI) set a deadline for completing your FASTag’s KYC, and second, PayTM issued FASTags after the Reserve Bank of India (RBI) ordered the financial tech platform to close its payments bank. Everything you require to know about the problems and what you should do has been compiled by us.
NHAI Demands FASTag for Complete KYC
One Vehicle, One FASTag” is a campaign that the NHAI recently unveiled in an effort to maximize toll collection and reduce delays. As part of the drive, the NHAI has instructed car owners to follow RBI standards and finish the KYCs for their FASTags. The deadline has been rescheduled from January 31 to February 29.
Why now?
This is due, in part, to the NHAI’s observation of multiple occurrences in which a single FASTag was used by many cars and multiple instances in which one vehicle was issued multiple FASTags. Each vehicle will only have one active FASTag registered to it after KYC is finished.
What occurs if FASTag KYC isn’t completed?
Your vehicle’s FASTag will be deleted even if there is still some remaining balance if the KYC is not finished by the deadline. In the event that your car is registered with numerous FASTags, each of which has proper KYC, only the most recent FASTag will be operational; the others will be blocked. (FASTag Paytm and KYC )
The best course of action for owners at this time is to complete their FASTag KYC, which may be completed online or offline, and use only one FASTag going forward. You can visit the relevant bank website that issued your specific FASTag or log in to the official website to check the KYC status of your FASTag.
Paytm Transfers Bank FASTag Issue
Due to anomalies, the Reserve Bank of India (RBI) has recently requested that PayTM close its payments bank and cease taking new deposits into its current wallets and accounts after February 29. This includes PayTM-issued FASTags. PayTM is one of the most well-known services that issues the RFID tag, and since FASTags became required for making toll payments without incurring penalties, this most recent development may cause problems for a lot of people. (FASTag Paytm and KYC )
Users may continue to add funds to and utilize their PayTM FASTags beyond the deadline until the end of February 2024. However, after the balance is depleted, you won’t be able to reload the PayTM FASTag and won’t be able to pay tolls with it.
We are still unsure of when the RBI will reverse its decision, despite the CEOs of several businesses calling for it to be done so. We advise you to obtain a new FASTag from a different source, such as a bank, and finish your KYC for the same in order to be safe and prevent issues in the near future.
Keep checking cardealvibe for the most recent details as we will be monitoring any additional changes involving FASTags in the coming days.