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As of April 1, users with multiple FASTags for a single vehicle will no longer be permitted to use them all

'One Vehicle, One FASTag' rule starts from today, Here's everything you need to know

<h2>As of April 1, users with multiple FASTags for a single vehicle will no longer be permitted to use them all</h2>

The National Highways Authority of India or NHAI has implemented the 'One Vehicle, One FASTag' norm starting April 1st, Monday. This rule aims to discourage the misuse of single FASTags for multiple vehicles or linking multiple FASTags to one vehicle.
NHAI had previously extended the compliance deadline for the 'One Vehicle, One FASTag' initiative to the end of March due to issues faced by Paytm FASTag users. As of April 1, users with multiple FASTags for a single vehicle will no longer be permitted to use them all. What is FASTag? FASTag is an electronic toll collection system in India, operated by the NHAI. It employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid or savings account linked to it or directly toll owner.

NHAI asks Paytm FASTag users to procure new one from another bank by Mar 15

NHAI urges Paytm FASTag users to do this by March 15…

<h2>NHAI asks Paytm FASTag users to procure new one from another bank by Mar 15</h2>

NHAI has advised Paytm FASTag users to obtain a new FASTag from another bank before March 15 to ensure a smooth travel experience and avoid inconvenience at toll plazas, an official statement said on Wednesday.
This will help avoid penalties or double fee charges while commuting on National Highways, as per the statement.
Following the Reserve Bank of India's guidelines on restrictions concerning Paytm Payments Bank, the statement said Paytm FASTag users will no longer have the option to recharge or top-up their balance after March 15, 2024.
However, they can continue to use the existing balance to pay tolls beyond the stipulated date, it added.
NHAI also advised Paytm FASTag users to reach out to their respective banks or refer to the FAQs provided on the IHMCL (Indian Highway Management Company Limited) website.
Last month, the Reserve Bank of India (RBI) had advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15.
The RBI had also said withdrawal or utilisation of balances by PPBL customers from their accounts, including saving bank accounts, current accounts, prepaid instruments, FASTags, national common mobility cards, will be permitted without any restrictions, up to their available balance even beyond March 15.
On FASTags, the RBI's FAQs had said one can continue to use them to pay tolls up to the available balance.
"However, no further funding or top-ups will be allowed in the FASTags issued by Paytm Payments Bank after March 15, 2024," it had said.
With a penetration rate of around 98 per cent and over 8 crore users, FASTag has revolutionised the electronic toll collection system in the country.

SBI Amrit Kalash Special FD Deadline- Investors have until March 31, 2024, to capitalize on this FD scheme, offering an attractive interest rate of 7.10%

From tax-saving deadline to FASTag KYC: Here are 5 critical dates can't miss in March 2024

<h2>SBI Amrit Kalash Special FD Deadline- Investors have until March 31, 2024, to capitalize on this FD scheme, offering an attractive interest rate of 7.10%</h2>

As the financial year draws to a close, several critical deadlines loom large, demanding immediate action to avoid potential hassles and financial penalties. The following are some of the important dates that fall in the month of March 2024. 1. Aadhaar Card Update Deadline is fast approaching. March 14, 2024, marks the final day for free Aadhaar card updates on the myAadhaar site. You can change your name, address or mobile number without having to pay a fee.
After this deadline the department will levy a fee for making these changes. To update your details, you need to visit the website: https://myaadhaar.uidai.gov.in/. 2. Paytm Payments Bank Deadline is also approaching rapidly. Services like Paytm app, Paytm QR, Paytm soundbox and Paytm Card machines will continue to work uninterrupted beyond the RBI&rsquo;s March 15 deadline. Beyond this date, no fresh deposits or top-ups will be accepted, with exceptions limited to cashbacks and refunds. However, you can continue to utilise your remaining balances.&nbsp; 3. Tax-saving deadline: The deadline for completing tax-saving activities for FY 2023&ndash;2024 is set for March 31, 2024. Failure to meet this deadline may lead to tax deductions according to the new tax regime, which has been effective since April 1, 2023. It is vital to remember that starting April 1, 2023, New Tax Regime is the default tax regime, in which most tax deductions are not applicable. So, in order to claim tax deductions, one must ensure to opt for the Old Tax Regime. 4. FASTag KYC: The NHAI has extended the compliance deadline for the 'One Vehicle, One FASTag' initiative until March 31, 2024, taking into account the difficulties encountered by Paytm FASTag users. NHAI had earlier proposed to implement 'One Vehicle, One FASTag' initiative from March 1. &nbsp; To enhance the efficiency of the electronic toll collection system and provide seamless movement at toll plazas, the NHAI has taken the 'One Vehicle, One FASTag' initiative that aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle. 5. SBI Amrit Kalash Special FD Deadline: The last day to invest in SBI Amrit Kalash is March 31, 2024. According to the SBI website, &ldquo;The specific tenor scheme of &ldquo;400 days&rdquo; (Amrit Kalash) at Rate of Interest of 7.10 % w.e.f. 12- April- 2023. Senior Citizens are eligible for rate of interest of 7.60%. The Scheme will be valid till 31-March-2024.&rdquo; 
Senior citizens are eligible for an interest rate of 7.60 percent. The scheme will be valid till March 31, 2024.

PayyTM Crisis: NHAI removes Paytm Payments Bank from the list of banks authorized to issue FASTag.

NHAI removes Paytm Payments Bank from list of banks authorised to issue FASTag

<h2>India boasting over 8 crore FASTag users, Paytm Payments Bank holds around 30% of the market share</h2>

Indian Highways Management Company Ltd (IHMCL), toll collecting arm of state-owned NHAI, has advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments Bank for hassle-free travel.
In a post on X, IHMCL said for hassle-free travel, buy your FASTag from 32 authorised banks.
The 32 authorised banks include Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank, among others.
A senior NHAI official told PTI that India has over 8 crore FASTag users and Paytm Payments Bank (PPBL) has around 30 per cent market share.
Earlier, IHMCL in a letter dated January 19, 2024 had barred Paytm Payments Bank from issuing fresh FASTags.
On January 31, the Reserve Bank directed Paytm Payments Bank (PPBL) to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags, and other instruments after February 29.
However, any interest, cashbacks, or refunds may be credited back to customers any time.
"No further deposits or credit transactions or top-ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, other than any interest, cashbacks, or refunds which may be credited anytime," the RBI said.
Further, withdrawal or utilisation of balances by its customers from their accounts, including savings bank accounts, current accounts, prepaid instruments, FASTags, and National Common Mobility Cards are to be permitted without any restrictions, up to their available balance.
"No other banking services, other than those ...like fund transfers (irrespective of name and nature of services like AEPS, IMPS, etc), BBPOU and UPI facility should be provided by the bank after February 29, 2024," it had added.
The direction followed persistent non-compliances and continued material supervisory concerns, the central bank had said in a statement.
IHMCL has said it is encouraging FASTag users to complete the 'Know Your Customer' (KYC) process of their latest FASTag as per RBI guidelines.
The banks authorized for issuing FASTags also include
<ul>
<li>Union Bank of India</li>
<li>Thrissur District Cooperative Bank</li>
<li>South Indian Bank</li>
<li>Saraswat Bank</li>
<li>Nagpur Nagrik Sahkari Bank</li>
<li>Kotak Mahindra Bank</li>
<li>Karur Vyasya Bank</li>
<li>J&amp;K Bank</li>
<li>IndusInd Bank</li>
<li>Indian Bank</li>
<li>IDFC First Bank</li>
<li>FINO Bank</li>
<li>Equitable Small Finance Bank</li>
<li>Cosmos Bank</li>
<li>City Union Bank Ltd</li>
<li>Central Bank of India</li>
<li>Canara Bank</li>
<li>Bank of Maharashtra</li>
<li>AU Small Finance Bank</li>
<li>Axis Bank</li>
</ul>
FASTag is an electronic toll collection system in India operated by the NHAI. It employs Radio Frequency Identification (RFID) technology for allowing toll payments directly from the linked bank accounts.&nbsp;

The KYC process of the FASTag must be completed by January 31 as the National Highways Authority of India is aiming to further streamline and authenticate the new and improved toll collection system across India

Update FASTag KYC by January 31st or risk deactivation; here's how to do it

<h2>The KYC process of the FASTag must be completed by January 31 as the National Highways Authority of India is aiming to further streamline and authenticate the new and improved toll collection system across India</h2>

The state-owned National Highway Authority of India (NHAI) has set January 31 as the deadline to complete FASTags Know Your Customer details. Failing which, even FASTags with valid balance will be deactivated or blacklisted by banks.&nbsp;
<h3>Reason for KYC process</h3>
As per NHAI, the step is being taken to further streamline and authenticate the new and improved toll collection system across India.
Also Read: <a href="https://www.editorji.com/business-news/india-explores-gps-based-tolling-as-nhai-tests-alternatives-to-fastags-1705317271764">India explores GPS-based tolling as NHAI tests alternatives to FASTags</a>
&ldquo;To enhance the efficiency of the electronic toll collection system and provide seamless movement at toll plazas, NHAI has taken the 'One Vehicle, One FASTag' initiative that aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle,&rdquo; an official statement said
<h3>Steps to update KYC details</h3>
To check the status you can simply login to the FASTag website and select the KYC status option in the My Profile option.
To update:
<ul>
<li>Visit the website - fastag.ihmcl.com</li>
<li>Click on the &lsquo;My Profile&rsquo; section and open the &lsquo;KYC&rsquo; tab</li>
<li>Add in the required details, including your identity and address proof documents</li>
<li>Upload a passport-size photo</li>
<li>Click on &lsquo;confirm the declaration&rsquo; then click &lsquo;submit&rsquo;</li>
</ul>
Users can also visit the nearest Toll plazas to update the details. The KYC process will take a maximum of seven working days to be updated
<h3>Documents required for KYC</h3>
Documents required for KYC as per RBI guidelines include, Registration certificate of the vehicle, Identity proof and address proof (Passport/Voter's ID/Aadhar Card/Driving license/PAN card/NREGA Job card), and a passport-size photo.

FASTag's challenger? India explores GPS-based tolling for fairer and faster commutes.

Say goodbye to toll booth blues! India tests GPS-based tolling for smoother highway rides

India explores GPS-based tolling as NHAI tests alternatives to FASTags

<h2>Starting January 31, 2024, the government has mandated the deactivation or blacklisting of FASTags with incomplete KYC by banks</h2>

The National Highways Authority of India (NHAI) is set to implement GPS-based toll collection on various routes throughout India to alleviate congestion at toll booths. According to Anurag Jain, the secretary of the Roads Ministry, the pilot phase will be conducted on selected highway stretches before expanding it nationwide. In this system, GPS technology will streamline toll collection, reducing queues at toll booths by eliminating the need to wait for FASTag deductions. The implementation will initially focus on new vehicles equipped with built-in GPS devices, while older vehicles will be required to install them.
The upcoming Global Positioning System (GPS) tolling is poised to replace the existing FASTag system, which currently utilizes Radio Frequency Identification (RFID) technology for toll payments directly from linked prepaid or savings accounts.
Also read/watch - <a title="Wholesale prices rise to 0.73% in December; accelerates to a 9-month high" href="https://www.editorji.com/business-news/economy/wholesale-prices-rise-to-0-73-in-december-accelerates-to-a-9-month-high-1705309282498#google_vignette">Wholesale prices rise to 0.73% in December; accelerates to a 9-month high</a>
Despite concerns about privacy associated with the new system, the National Highways Authority of India (NHAI) assures that it is still in the development phase. Implementation on a large scale will follow feedback and responses.
<h3>Here's how the new GPS-based system functions:</h3>
The GPS system reduces congestion at toll booths by eliminating the need to wait for FASTag deductions. It will be seamlessly integrated into new vehicles equipped with built-in GPS devices, while older vehicles will be required to install them.
In line with the transition, the government has mandated the deactivation or blacklisting of FASTags with incomplete Know Your Customer (KYC) information by banks after January 31, 2024. This move aims to streamline toll collection and enhance the overall efficiency of the system.

In partnership with MG Hector and Bharat Petroleum, ToneTag has launched a digital payment system that enables Pay by Car to digitally pay for things like fuel and Fastag without using their smartphones or cards

Digital Payment: Now, all you need is your car to pay for fuels and Fastag

In partnership with MG Hector and Bharat Petroleum, ToneTag has launched a digital payment system that enables Pay by Car to digitally pay for things like fuel and Fastag without using their smartphones or cards

Amazon and Mastercard-backed ToneTag has launched the latest mode of making payments, through which users can make payment using their cars, reported Times Of India. This can be availed by linking the Unified Payments Interface (UPI) to the car's Infotainment System which would allow the car owners to digitally pay for things like fuel without using their smartphones.
The report further added that ToneTag demonstrated the new technology in partnership with MG Hector and Bharat Petroleum
<h2>This is how it works</h2>
Once the car reached a fuel station, the soundbox would inform the fuel staff about the customer's arrival and the fuel dispenser number would appear on the car's infotainment system. In a contactless transaction, the Customer can enter the amount announced by the soundbox after refuelling.
As per ToneTag, the same can be used for other services like Fastag with the balance being displayed on the car's infotainment screen.&nbsp;
ToneTag is the world's largest audio-based solutions provider which offers both software and hardware to enable various services.&nbsp;&nbsp;

The daily toll collection through FASTag system reached an all-time high of Rs 193.15 crore on April 29

NHAI FASTag daily collection at record on this date 

The daily toll collection through FASTag system reached an all-time high of Rs 193.15 crore on April 29

The National Highways Authority of India (NHAI) on Tuesday said the daily toll collection through FASTag system reached an all-time high of Rs 193.15 crore on April 29, with 1.16 crore transactions recorded in a single day.
NHAI &nbsp;in a statement further said since FASTag was mandated by the government in February 2021, the number of toll plazas under FASTag programme has increased from 770 to 1,228, including 339 state toll plazas.
FASTag uses radio-frequency identification (RFID) technology, which provides users a smooth crossover at toll plazas without halting. The payment is made digitally through the FASTag linked to the bank wallet.
In addition to its effectiveness in toll collection, FASTag has also facilitated seamless and secure contactless payment for parking fees at over 140 parking lots in 50+ cities across India, NHAI added.
NHAI also said it is actively working towards finalizing the necessary requirements for implementation of Global Navigation Satellite System (GNSS) based tolling system for allowing free-flow tolling system in India.

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