The National Payments Corporation of India (NPCI) issued a circular on the Implementation of Policies to Standardize Vehicle Number Updates; Vehicle Identification, and KYC for National Electronic Toll Collection (NETC) FASTag Issuance. The Circular was issued on 18th January, 2023.
All issuing banks are requested to comply with the following policy documents in order to standardize customer experience:
• The Vehicle Identification and KYC: To facilitate the standard NETC FASTag issuance process.
• The Vehicle Registration Number (VRN) Update: To ensure the updation of VRN for NETC FASTag issuance on chassis no.
Both the policy documents are annexed to this circular.
These policies will have to be mandatorily followed by all issuing banks effective from 1st March, 2023.