The year 2025 has brought updates to FASTag wallet regulations, making it vital for users to stay informed. The Reserve Bank of India (RBI) has introduced stringent mandates to enhance transparency and efficiency in toll payment systems. Let us break down the key changes:
- Mandatory e-mandates for auto-recharges:
To prevent low wallet balances and ensure uninterrupted toll payments, the RBI now requires FASTag wallets to have an active e-mandate. This allows automatic recharges when your balance dips below a set threshold. - Know Your Customer (KYC) compliance:
FASTag wallets are now subject to stricter KYC requirements. There are two types of KYC:- Minimum KYC Wallets: These have limited transaction caps and lower monthly limits.
- Full KYC Wallets: These offer higher transaction limits and greater flexibility. Completing full KYC is recommended to avoid any operational restrictions.
- Minimum balance requirements:
FASTag wallets must maintain a minimum balance to ensure smooth transactions. Failing to meet this requirement can lead to transaction failures or penalties.
Pro Tip: Enable auto-recharge through your Bajaj FASTag account today to avoid manual recharges.