Indian Highways Management Company (IHMCL) is set to provide a one-month grace period extension for completing Know Your Customer (KYC) compliance applicable on FASTags, a senior official revealed. Earlier, the National Highways Authority of India (NHAI) had announced non-KYC compliant tags even with balances would get deactivated post January 31st.
The additional breathing room comes after only around 7 lakh FASTags faced closure out of nearly 130 million active tags as per latest reports. IHMCL regulates deployment and operations of electronic toll collection nationwide through the compulsory FASTag program anchored to vehicle registration.
98% Network Penetration; 8 Cr+ Users
Launched to enhance efficiency, minimize leakage and reduce congestion at toll plazas, FASTags have witnessed massive adoption over the years. Tag penetration levels across vehicles stand at a remarkable 98% presently with over 8 crore unique users leveraging its automated deduction convenience daily.
By mandating ‘One Vehicle, One FASTag’ policy, authorities seek curbing misuse of single tags across multiple vehicles by enforcing stronger compliance. While updating KYC is not mandatory for functioning tags with balances, it facilitates improved visibility into usage patterns.
RFID-Based Connected Mobility Solution
FASTag employs radio frequency identification for enabling automated toll payments during transit directly through linked prepaid wallets or savings bank accounts. Amounts get deducted instantly based on vehicle movement while users receive instant SMS alerts regarding deduction details and balance status.
