New FASTag KYC rules of 2024

NPCI has released new guideline related to FASTag, according to which if you do not follow this guideline then your tag can be cancelled. We have explained the steps for this new guideline in the following slides.

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VRN and chassis number For vehicles which do not have a VRN, the chassis number of the vehicle is required and it will be necessary to update the VRN within the next 90 days. If VRN is not updated then such tag will be kept in Hotlist category.

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Hotlist Tag If a tag is placed in this category, the issuer has to update the VRN within 30 days. If they do not do so the tag is cancelled.

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Mobile Number KYC First of all, you should ensure whether KYC of your mobile number has been done or not. If not, then according to the new rules, KYC of your mobile number should be up-to-date.

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TAG AREA The tag should always be attached straight and straight to the front of the vehicle. Should not be tilted or torn.

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Transactions on unregistered numbers will be completely stopped and KYC will have to be updated every 3 years.

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This new notification of NPCI will be applicable from 1st August 2024 and compliance of this notification should be done before 31st October 2024. If there is no compliance then that tag will be blacklisted and no transaction will happen with that tag in future.

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