The National Highway Authority of India (NHAI) which is responsible for developing, maintaining, and managing the National Highways has officially announced the launch of the One Vehicle One Fastag 2024 initiative, effective January 15, 2024. This program encourages all residents to adhere to the policy of assigning a single FASTag to each vehicle, discouraging the practice of using one FASTag for multiple vehicles or associating multiple FASTags with a single vehicle. In this article, we are going to talk about the “One Vehicle One Fastag 2024” in detail. It is advised to read the complete article, to have complete information regarding the same. 

What is One Vehicle One FASTag Scheme 2024?

The One Vehicle One FASTag Initiative, introduced by the National Highway Authority of India (NHAI), allows residents to participate in the new scheme starting from January 15, 2024. This initiative strongly discourages the practice of using a single FASTag for multiple vehicles or linking multiple FASTags to a single vehicle. Open to all nationals, the program emphasizes compliance with Reserve Bank of India (RBI) requirements and mandates completion of the “Know Your Customer” (KYC) process for the latest FASTag.

NHAI is actively promoting FASTag users to adhere to the ‘Know Your Customer’ (KYC) process for their most recent FASTag, aligning with RBI guidelines. FASTags that possess a valid balance but lack complete KYC information will be subject to deactivation or blacklisting by banks after the 31st of January, 2024.

To uphold your FASTag compliance, it is now necessary to undergo the KYC procedure and surrender any previously issued FASTags from your banks. The Government of India has issued a recent announcement outlining the initiative’s objective, which is to deactivate or blacklist earlier tags after January 31, 2024, leaving only the most recent FASTag account in operation. If you wish to avail yourself of FASTag-related services, it is advised to promptly complete the One Vehicle One FASTag Registration 2024 process and undergo the KYC Update procedure.

One Vehicle One FASTag Scheme 2024 Key Highlights
One Vehicle One FASTag Scheme Launch Date	January 15, 2024
One Vehicle One FASTag Scheme Official Website	NHAI Official Website
One Vehicle One FASTag Scheme Objective	To Discourage Shared FASTags for Multiple Vehicles
One Vehicle One FASTag Scheme Beneficiary	All the FASTAG Owners
One Vehicle One FASTag Scheme Last Date to Apply	February 29, 2024
One Vehicle One FASTag Scheme Department	National Highway Authority of India
One Vehicle One FASTag Scheme Apps	MyFASTag and FASTag Partner
One Vehicle One FASTag Scheme Helpline Number	1033

One Vehicle One FASTag Scheme Objective

The objective of the One Vehicle One FASTag Initiative, initiated by the National Highways Authority of India (NHAI), is to dissuade individuals from associating multiple FASTags with a single vehicle or using a single FASTag for multiple vehicles. 

The Ministry of Road Transport & Highways, in its announcement on Monday, highlighted that this initiative aims to enhance the efficiency of the Electronic Toll Collection system and facilitate seamless traffic flow at Toll Plazas.

This scheme will streamline the FASTAG Owners to have only one FASTAG per vehicle. They will not be able to use one FASTAG for multiple vehicles or  Multiple FASTAG for one particular vehicle. 

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One Vehicle One FASTag Initiative Key features 

Initiation and Duration: The ‘One Vehicle, One FASTag’ campaign, launched by the National Highways Authority of India (NHAI), commenced in 2014, marking nearly a decade of its implementation.

Enhancement of Electronic Toll Collection System: By preventing the sharing of FASTags among owners of multiple vehicles, the initiative aims to optimize the efficiency of the Electronic Toll Collection System.

NHAI’s KYC Urgency: NHAI is actively encouraging FASTag users to comply with RBI requirements by promptly updating their KYC details and completing the “Know Your Customer” (KYC) process for their latest FASTag.

Deactivation of Non-Compliant FASTags: After January 31, 2024, banks will deactivate or blacklist FASTags with valid balances but incomplete KYC, ensuring compliance with regulatory standards.

FASTag Penetration and Customer Base: FASTag has significantly transformed the nation’s Electronic Toll Collection system, achieving a remarkable penetration rate of over 98 percent with a customer base exceeding 8 crore.

Mandatory KYC Update: Car owners are now required to update the KYC linked to their FASTags. Failure to update this information by January 31 will result in the deletion of their FASTag, even if it maintains a sufficient balance.

One Vehicle One FASTag Scheme Online Registration

To enroll in the One Vehicle One FASTag program, users are required to follow the steps outlined below:

• Begin by visiting the official website of the National Highway Authority of India (NHAI). 

• The homepage of the website will be displayed on the screen.
• Locate and click on the Registration Link under FASTag Widget

• The registration form will appear on the screen. 
• Complete the form by providing all the necessary details such as Name, Aadhar Number, Address, etc.
• Once all required information is filled in, click on the Submit button to finalize the registration process.
• After that, you can log in again by using your credentials. 

One Vehicle One FASTag Scheme Steps to Update (Online)

To update FASTag KYC details online, users should adhere to the following steps:

• Start by visiting the official website of the Indian Highways Management Company Limited (IHMCL) FASTag portal.

• You can also download the “MyFASTAG” App.
• Locate and select the Login tab to access the login page.

• Log in using your mobile number as the login credentials.
• Once logged in, click on the My Profile option.
• Within the profile section, navigate to the “KYC” tab.
• Choose the appropriate Customer Type.
• Provide all the necessary details as prompted.
• Finally, click on the submit button to successfully update FASTag KYC details online.

Your KYC will be processed in 7 working days from the date of submission of the request to update KYC.

Please Note: The recharge limits for your FASTag are determined by the status of your KYC.

• For minimum KYC, the monthly value of the FASTag wallet should not exceed ₹10,000, and the total amount loaded in the wallet during a financial year should not exceed ₹1 lakh. 
• On the other hand, with full KYC, you can have a maximum of ₹1 lakh in the wallet at any given time. Achieving full KYC status is done by linking your Savings Bank Account with your FASTag Account.

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One Vehicle One FASTag Scheme Steps to Update (Offline)

To update FASTag KYC details offline, users can follow the steps outlined below:

• Visit the nearest bank branch from where your FASTag was issued.
• Obtain the KYC update form from the relevant bank officials.
• Complete the form by providing all the necessary details.
• Attach all the required documents along with the filled-in form.
• Submit the completed form and documents to the concerned bank officials.
• Following a successful verification process, your FASTag KYC details will be updated.

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