Because the deadline set by the Nationwide Highways Authority of India (NHAI) looms, FASTag customers are reminded to replace their Know Your Buyer (KYC) particulars by February 29, 2024, to stop potential deactivation or blacklisting of their accounts. NHAI’s “One Car, One FASTag” initiative goals to streamline toll fee processes and discourage the misuse of FASTags.
Significance of well timed KYC updates
NHAI underscored the significance of immediate KYC updates to make sure seamless toll fee experiences on nationwide highways, emphasising the necessity for compliance earlier than the deadline.
Penalties of non-compliance
Failure to replace FASTag KYC particulars by the deadline may lead to account deactivation or blacklisting by the financial institution, resulting in inconvenience and delays at toll plazas throughout journey.
The right way to replace FASTag KYC
Updating FASTag KYC is a simple course of:
- Go to the IHMCL buyer portal: https://fastag.ihmcl.com
- Log in utilizing your registered cell quantity and password or OTP for verification.
- Entry your profile and choose “My Profile” from the dashboard menu.
- Examine your KYC standing on the profile web page and observe the directions to replace if vital.
NHAI’s initiative to boost compliance
NHAI reiterated its dedication to selling compliance with KYC norms, aiming to discourage using a single FASTag for a number of automobiles or associating a number of FASTags with one automobile, in step with RBI pointers.
Encouraging adherence to KYC course of
FASTag customers are inspired to finish the KYC course of for his or her newest FASTag, aligning with RBI pointers and NHAI’s efforts to boost toll fee effectivity and transparency.
