As part of the ‘One Vehicle, One Fastag’ program, the National Highways Authority of India (NHAI) and RBI have made it compulsory for users to undergo the KYC (Know Your Customer) process. The original deadline for completing the KYC was February 29th, however, it was later extended by an additional month. Feb 29th was the final chance for users to fulfill this requirement. There were speculations that NHAI might further extend the deadline by another month, making March 31 the new last date.

What is a Fastag?:

FASTag is a nifty gadget that you can stick to your vehicle’s windshield. You have the option to cleverly link it to either your bank account or a prepaid card. As the vehicle equipped with FASTag passes through a toll plaza, a scanner recognizes the tag and automatically deducts the toll amount from the linked bank account or prepaid card.

What is FASTag and how it works?

Steps to update FASTag KYC on the Portal
Follow these steps:

1. Go to the official website of your bank/issuing authority.
2. Log in to your account using your credentials.
3. Look for the option to update your FASTag KYC.
4. Click on the KYC tab or any relevant option.
5. Keep your vehicle registration certificate, driving license, address proof, identity proof, and a photograph ready.
6. Fill out all the necessary information as required.
7. Submit the updated KYC details.
8. Once the update is successful, your FASTag KYC will be updated on the bank/issuing authority portal.

Please ensure that you provide accurate and up-to-date information during the KYC update process.

1. Begin by accessing the designated website of the bank or issuing authority responsible for your FASTag.
2. Proceed to log in to the bank’s website using your provided credentials.
3. After successfully logging in, navigate to the FASTag section and proceed to the KYC segment.
4. Ensure you have your vehicle registration certificate, driving license, address proof, identity proof, and a photograph readily available.
5. Complete all required fields with the necessary information, and you will have successfully finished the process.

1. Online: Through online wallets or FASTag issuing companies: Alternatively, you can acquire FASTags through online wallets such as Paytm or directly from FASTag issuing companies like ICICI Bank or NPCI. The application process is similar to that of applying through a bank’s website.
2. Offline: At Point-of-Sale (POS) locations: FASTags are also obtainable at Point-of-Sale (POS) locations such as toll plazas and select retail outlets. Simply visit a POS location, complete an application form, submit the necessary documents (similar to online applications), and make the payment.

Here are some additional considerations:

The documents required for an application may slightly differ depending on the issuing agency. It is generally advisable to refer to their specific website for the most up-to-date information.
FASTags typically necessitate a minimum balance. Ensure that you recharge your account before usage to avoid any complications at toll booths.

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Getting a FASTag

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According to the RBI statement, “No further deposits or credit transactions or top-ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after 29 February 2024.” The central bank has directed that no other banking services, except for specified transactions like fund transfers (AEPS, IMPS, etc.), BBPOU, and UPI facility, should be provided by the bank after the given date.

Furthermore, the RBI has called for the termination of the “nodal accounts” of One97 Communications Ltd and Paytm Payments Services, not later than 29 February 2024. Settlement of all pipeline transactions and nodal accounts initiated on or before February 29, 2024, should be completed by 15 March 2024, with no further transactions permitted thereafter.

The move follows the Indian Highways Management Company’s (IHMCL) decision to prohibit Paytm Payments Bank from issuing new FASTags due to non-compliance with prescribed parameters.

For Paytm FASTag users, the directive means that while they can continue using their existing FASTags after 29 February, they won’t be able to top off or recharge them using the Paytm Wallet. Users are advised to utilize the existing balance until depleted, as recharging or porting the FASTag to another bank from Paytm Payments Bank will not be possible post the specified date.

In response to these developments, Paytm announced its intention to collaborate with various other banks instead of Paytm Payments Bank. The company emphasized that existing user deposits in savings accounts, wallets, FASTags, and NCMC accounts can still be utilized, but credit top-ups for Paytm users are blocked after 29 February.

The RBI’s directive has prompted Paytm to decrease its dependency on Paytm Payments Bank and work with other banks for continued service provision. Paytm President Madhur Deora stated, “Going forward, we will work with large banks who also provide these services to other consumer companies.”

Customers making Unified Payments Interface (UPI)-based payments through the Paytm app won’t experience immediate effects, but those using UPI payments with accounts linked to Paytm Payments Bank will face interruptions after 29 February. Wallet services will also be affected as PPBL is essential for a user’s Paytm wallet. Money can be deposited into the wallet until 29 February, and clients can spend the balance until depleted.

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Generally, UPI provides a safe and easy way to pay or transfer money to someone. But if someone gets access to your device, they can misuse your app. That’s why in this article I will tell you how to block the account of Paytm (PAYTM), Google Pay (GOOGLE PAY), Phone Pay (PHONE PAY) etc. if you lose your device.

Here’s a step-by-step guide on how to block Paytm, Google Pay, etc., so you don’t have to worry about your money being stolen from your account if you lose your phone.

How to Block Paytm Account?

• Call Paytm Payments Bank Helpline Number 01204456456.
• Select the Lost Phone option.
• Now select the option to enter another number and enter your lost number.
• Now select the option to log out from all devices.

Select the 24×7 helpline option below on the Paytm website

1. After that select the option of Report Fraud and select any category.
2. After that click on any issue and click on message us button.
3. Now you have to provide a proof for account ownership which can be debit or credit card statement along with Paytm account transaction, or confirmation email or SMS of Paytm account transaction, or phone number ownership or your lost or stolen phone. Police complaint.
4. After that it will be validated by Paytm and your account will be blocked. And after that they will be given a confirmation message.

How to block Google Pay account?

1. Google Pay users can call this helpline number 18004190157 and after that you have to select your language.
2. Then select the correct option for all other issues.
3. Then choose the option to speak to a specialist who will help you unblock your Google Pay account.
4. And Android users can remotely wipe their entire phone so that no one can access their Google account.
5. iOS users can also remotely delete all their data just like Android users.

How to block Phone Pay account?

1. Phonepay users can call on 08068727374 or 02268727374.
2. After selecting your language you will be asked if there is any problem with your phone pay account for which you need to press the correct number.
3. You have to enter your registered mobile number then an OTP will be sent to you for confirmation.
4. Select the OTP Not Found option.
5. You will be given the option of Loss of SIM or Device, select it.
6. You will be connected with a Phone Pay representative who will help you unblock your account.

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