#Fastag Rules

[hitchzone24]

Essential Fastag Update you need to know for 2024

Starting from 1st August 2024, several important updates regarding FASTag usage and compliance have been introduced by the National Payments Corporation of India (NPCI). These updates aim to streamline the toll payment process and ensure a more secure and efficient system for vehicle owners. Here’s what you need to know about the new FASTag rules effective from August 1, 2024.

i) KYC Updates

One of the significant changes is the requirement for Know Your Customer (KYC) updates. Vehicle owners with FASTags issued three to five years ago mist update their respective KYC details by October 31, 2024.

This update is mandatory to continue using the FASTag service without any interruptions. If your FASTag is older than five years, you will need to replace it with a new one to comply with the regulations.

ii) Linking Vehicle Information

From April 1, 2024, the "One FASTag, One Vehicle" policy became mandatory. This policy requires each FASTag to be uniquely associated with a specific vehicle. All FASTag users must link their tags to the vehicle’s registration number (VRN), chassis number, and owner’s mobile number. New vehicle owners must update their registration number on the FASTag within 90 days of purchase. This measure helps prevent misuse and makes certain that each transaction is correctly attributed.

iii) Verification of Database

FASTag service providers are now required to verify and update their databases regularly. This includes a confirmation that the linked vehicle details match the ones in the VAHAN database so that everything is accurate and up-to-date.

iv) Linking Mobile Number

Each FASTag has to be linked with the mobile number of the owner. This linkage ensures better communication between the users and providers of FASTag. Furthermore, users will also benefit from receiving timely updates, notifications, and alerts.

Make sure your mobile number is correctly linked to avoid missing out on any crucial information.

v) Photo Upload

Lastly, to make sure that the vehicle associated with FASTag is correctly identified, providers must upload clear photographs of the vehicle. The images include the front and side of the vehicle as well as a clear view of the FASTag that’s affixed to the vehicle.

This requirement enhances security and ensures that the FASTag is being used correctly and legally.

Overall, by adhering to all the above guidelines, vehicle owners can ensure a smooth and hassle-free toll payment experience. Thus, it’s wise to stay updated and make the necessary changes before the final deadline of October 31, 2024 or you’ll have to face the penalty of double the toll charges.

[motogazer]

The New FASTag Rule To Be Implemented From 1st August

New FASTag rule that's effective from August 1 includes mandatory KYC updates, updating of 5-year-old FASTags, and linking vehicle details

[6nikhilum6]

No Toll Charges for Private Vehicles Up to 20 km Daily with GNSS: New Rules Take Effect

The Ministry had earlier announced that a GNSS-based toll system would be introduced on select national highways on a pilot basis, alongside the existing FASTag system. Union Road Transport Minister Nitin Gadkari confirmed that pilot studies had already been conducted on the Bengaluru-Mysore (NH-275) and Panipat-Hisar (NH-709) sections. Mr. Gadkari also mentioned that a stakeholder consultation,…

[prsundarfinfluencer]

PR Sundar Finfluencer, Sheds Light on RBI's Control over Paytm Bank: Impacts for Fintech Startups

The recent action taken by the Reserve Bank of India (RBI) against Paytm's subsidiary, the Paytm Payment Bank, has sent shockwaves across the fintech industry. The RBI has stopped the payment bank from doing certain things like accepting deposits, adding money to customer accounts, issuing prepaid instruments, providing FASTags, wallets, and similar services after February 29, 2024.

PR Sundar, a well-known expert in finance, explains what this means for Paytm Bank and how it might affect other fintech startups. According to PR Sundar Finfluencer, "This move from the RBI essentially stops Paytm's payment bank from signing up any new customers right away, and it has other consequences too."

With the rise of digital finance, especially due to the COVID-19 pandemic, regulators are increasingly concerned about issues like data privacy, cybersecurity, and making sure everyone has access to financial services. In this context, regulatory bodies like the RBI feel the need to tighten their supervision and make sure everyone follows the rules properly to reduce risks.

The RBI's actions against Paytm Bank mainly stem from worries about whether the bank is following all the rules properly. PR Sundar points out, "There have been cases where Paytm Bank allegedly didn't do a good job with things like knowing their customers or following anti-money laundering rules, and this has raised concerns." Moreover, the RBI is worried about potential dangers related to Paytm Bank's way of doing business, especially regarding the security of customer information and the stability of the whole financial system.

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[neccorporation]

How do FASTag-based parking systems work?

In the FASTag-based parking system, RFID is used to collect essential data like in-time and out-time for calculating the parking tariff. 

A lot of money is spent on paying the parking staff. FASTag-based parking system uses RFID technology to reduce the dependence on parking staff and minimize the expenditure incurred on hiring parking staff. NEC India has developed a smart parking system for cities. 

The main component of this system is the RFIDs, which collect and relay data related to the vehicles in a parking lot. This technology is ideal for both on-street and off-street parking. 

With this technology, the need to manually provide parking slips and collect tariffs from vehicle owners can be avoided. The smart parking system can help the concessionaire maintain a parking lot with minimum expenditure, and it will also increase efficiency. 

RFID technology will help in keeping an accurate record of the in-time and out-time. A tariff generation software will calculate the exact amount to be paid by the owner for parking. The amount to be paid will be automatically deducted and deposited in the account of the concessionaire. 

Parking sensors are another component that guides the vehicles to the vacant spot without any hassles. They can also assist the maintainer in monitoring the parking lot and generating efficiency reports of the parking lot. 

Any rules regarding parking can be enforced by the concessionaire, and violations can be penalized with the help of parking sensors. The parking sensor also helps vehicles to find a parking lot where there is a vacant slot. This is a helpful feature because parking lots tend to be busy places, and it can save vehicles a lot of time and effort. 

In case the internet fails, the system is able to work offline as all the data regarding access permission and transactions is stored in hardware components of the parking system. The access control system checks the locally stored data to verify the permission to enter. 

Source referred 

[vosostore01]

Pay Your Customers Bills Anytime, Anywhere with the Bharat Bill Payment System (BBPS)

We've all had the experience of standing in queues to pay our electricity or water bills, or any other municipal bills for that matter. Paying government bills in India was insanely difficult, tedious, and time-consuming. More than that, it was a waste of time. But, on the recommendation of the RBI, the National Payment Corporation of India (NPCI) launched the BBPS. Users of the BBPS can pay a variety of municipal bills all under one roof thanks to its comprehensive platform and integrated payment system. It was a significant step toward changing India's payment system, similar to the Aadhaar Enabled Payment System (AEPS).

What is Baharat bill payment system? 

Here are some important objectives of BBPS-

The Bharat Bill Payment System, also known as BBPS, is a payment ecosystem that NPCI has conceptualized. For all recurring bills, it serves as a one-stop shop and offers payment services whenever and wherever. One can pay all types of bills, such as those for electricity, loans, water, credit cards, tuition, and more, through a single gateway.

The rules for the Integrated Payment System were established by the RBI in November 2014. After that, NPCI created BBPS and launched it formally in 2016.

BBPS develops a platform to link payment service providers, retail bill outlets, and banks and non-banks engaged in the bill aggregation business.

What kind of bills can be paid via BBPS?

BBPS accepts payments for the following bills via various payment methods:

Water bill

Gas bill

Loan repayment 

Fastag recharge 

Landline recharge 

Postpaid recharge 

Broadband bill

LIC premium 

Education fee

Electricity bill

Insurance premium 

Housing society bill

Conclusion 

In India, BBPS is becoming more popular. Since the implementation of this incredible payment system, no longer have to wait in long queues to pay their municipal bills; instead, they can do so anytime by Voso Franchise Partner.

[bansalnews]

Toll Plate Rule: पिछले कई सालो में जहां सरकार हाईवे और एक्सप्रेस वे का लगातार निर्माण कर रही है जिससे की सफर को आसान बनाया जा सकें। लेकिन इन बेहतरीन रास्तों के उपयोग के लिए टोल टैक्स देना होता है।

[vilaspatelvlogs]

FASTag: जल्द ही 'सैटेलाइट' से कटेगा टोल टैक्स, बिना फास्टैग नहीं होंगे गाड़ी से संबंधित ये जरूरी काम

FASTag: जल्द ही ‘सैटेलाइट’ से कटेगा टोल टैक्स, बिना फास्टैग नहीं होंगे गाड़ी से संबंधित ये जरूरी काम

लगभग सभी गाड़ियों पर फास्टैग लगने बाद टोल प्लाजा पर 93 फीसदी पेमेंट इलेक्ट्रिॉनिक तरीके से हो रही है। जिसका फायदा यह हुआ है कि 28 फरवरी को टोल क्लेक्शन 108 करोड़ रुपये रहा। वहीं कुछ टोल प्लाजा अभी भी जाम की स्थिति से जूझ रहे हैं। इसकी वजह है फास्टैग स्कैनर का ठीक से काम नहीं कर पाना। सड़क परिवहन मंत्रालय ने इस समस्या से निजात पाने के लिए एक रियल टाइम ऑनलाइन ट्रैफिक मॉनिटरिंग सिस्टम का एप लॉन्च…

[prsundarfinfluencer]

PR Sundar Finfluencer, Analyzes RBI's Oversight of Paytm Bank: Significance for Fintech Startups

The Reserve Bank of India (RBI) recently made a significant move targeting Paytm's subsidiary, the Paytm Payment Bank. This has caused a stir in the fintech sector. The RBI has banned the payment bank from doing certain activities like accepting deposits, adding funds to customer accounts, and offering services like prepaid instruments, FASTags, and wallets after February 29, 2024. PR Sundar Finfluencer, a well-known expert in finance, explains what this means for Paytm Bank and how it could affect other fintech startups. He says, "This RBI directive stops Paytm's payment bank from signing up new customers right away, and it will have other effects too."

During this crackdown, there are several issues at play. The rise of digital finance, especially during the COVID-19 pandemic, has raised concerns about data privacy, cybersecurity, and ensuring everyone has access to financial services. Because of this, regulators like the RBI are taking steps to strengthen their oversight and make sure companies follow the rules more closely to manage risks better.

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[newsbunddle]

Government likely to extend mandatory use of FASTag for toll payment on National Highways

Government likely to extend mandatory use of FASTag for toll payment on National Highways

(This story originally appeared in on Dec 30, 2020) NEW DELHI: The government is set to extend the deadline for 100% collection of toll charges on the National Highway (NH) network through FASTag. Earlier, the National Highways Authority of India (NHAI) had announced to completely do away with cash transactions for paying toll charges from January 1. Sources said the extension would be at least…

[newseaters]

Fastag हुआ अनिवार्य, चेक भुगतान का नया तरीका लागू, जानिए क्या-क्या हुए बदलाव

Fastag हुआ अनिवार्य, चेक भुगतान का नया तरीका लागू, जानिए क्या-क्या हुए बदलाव

1 Jan 2021 Rules Changing: 2020 की कढ़वी यादें भुलाकर दुनिया ने नए साल में प्रवेश कर लिया है। यह जानना भी बहुत जरूरी है कि 1 जनवरी 2021 से कौन से नियम बदल गए हैं या नए नियम लागू हो गए हैं। घरेलू रसोई गैस के दाम हर माह की तरह अपडेट हुए। अच्छी बात यह रही कि कोई बदलाव नहीं हुआ। वहीं कुछ ऐसे नियम में बदले, जिनका सीधा असर आम आदमी पर पड़ेगा। कहीं राहत मह��ूस हुई है, तो कहीं जेब पर बोझ बढ़ा है। जानिए 1…

[igsdc]

Everything You Need To Know About BBPS Service

Everyone must have experienced standing in long queues to pay their phone, water and electricity bills. Before 2017, billing was time consuming and required a lot of effort. National Payments Corporation of India (NPCI) on the advice of RBI  bill payment service  (BBPS) started. An integrated payment system known as BBPS provides users access to different types of bills, charges etc. at one place.

History of BBPS

It has long been necessary for the nation to have a single, easily accessible method of paying bills. The Reserve Bank of India published the rules for the Unified Payment System on 28 November 2014. National Payments Corporation of India created BBPS, which launched in August 2016.

How does it work?

The working of Bharat Bill Payment Service is divided into two components which cooperate with each other. The first and second are known as BBPCU and BBPOU respectively.

The central organization of Bharat Bill Payment Services, BBPCU aims to set guidelines and policies for all members. Additionally, it handles the clarification and settlement of disputes between the Agent and the BBPOU. The online and offline bill payment services of Bharat Bill Payment Service are run by another organization BBPOU.

Services by BBPS

bbps  Through the service, the following services will be available in a particular area:

Electricity bill

Water bill

Broadband bill

Gas bill payment

Dth

FASTag

Housing tax

Features of BBPS

This service is easily accessible everywhere.

Payment through BBPS can be done offline as well as online.

Cash, Debit Card, Credit Card or UPI can be used to make the payment.

It is an integrated system for payment of bills that connects banks, billers and customers.

Benefits of BBPS

It has become easier for the citizens of the country to use the BBPS service. People no longer need to wait in long queues for hours to pay their bills as it can now be done instantly.

bbps  The service, which is accessed by thousands of departments across the country, enables instant payment of DTH, broadband and water bills. These services make it possible to deliver accounts quickly from any place at any time.

You can deposit multiple bills faster in one place; No need to visit different websites of businesses or departments to submit different bills.

Bill payment through BBPS helps in cashless economy, thereby saving time and money. Customers can pay their BBPS service bills through Debit Card, Credit Card, Net Banking, UPI or by cash in person.

Conclusion

You can apply online through the IGS Digital Center portal to start BBPS service, and you can open a retail location by calling the number provided by the company. IGS Digital Center will help you to start retail business for an affordable amount. BBPS service makes it easy for the customers to pay their bills. Also IGS Digital Center provides 300+ government and non-government services. Services provided by IGS Digital Center Limited include AEPS service, DMR service,  recharge service, Travel booking services, CA services, Legal services and IT services etc. are the main ones.

[vilaspatelvlogs]

FASTag: टोल प्लाजा पर आपका वाहन इस 'रंगीन लाइन' तक पहुंच गया, तो मुफ्त करें यात्रा

FASTag: टोल प्लाजा पर आपका वाहन इस ‘रंगीन लाइन’ तक पहुंच गया, तो मुफ्त करें यात्रा

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