Introduction: The National Highways Authority of India (NHAI) has enforced the ‘One Vehicle, One FASTag’ norm from April 1, 2024, to discourage the use of a single FASTag for multiple vehicles and streamline the electronic toll-collection process.
One Vehicle, One FASTag:
- Objective: To enhance the efficiency of the electronic toll-collection system and reduce congestion at toll plazas.
- Implementation: Ensures that each vehicle has a unique FASTag, preventing users from linking multiple FASTags to one vehicle or using a single FASTag for multiple vehicles.
Role of FASTag in Toll Collection:
- Technology: Utilizes Radio Frequency Identification (RFID) technology.
- Usage: Over 8 crore users, with a penetration rate of approximately 98%, have adopted FASTag in India.
- Function: Enables toll payments directly from prepaid or savings accounts linked to the FASTag.
RBI’s Advice:
- Paytm Payments Bank Ltd (PPBL): The Reserve Bank of India (RBI) advised customers and merchants to shift their accounts to other banks by March 15, 2024.
FASTag Regulations:
- KYC Requirements: FASTags with incomplete Know Your Customer (KYC) details will be deactivated or blocklisted.
- Action Required: Users must complete KYC updates by March 31, 2024, as per RBI guidelines.
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