The acronym KYV of FASTag stands for Know Your Vehicle, a verification process introduced by the National Payments Corporation of India (NPCI). The purpose is to ensure that each FASTag is adequately associated with the actual vehicle to which it is given. This verification is of good help in keeping the government initiative of “One Vehicle, One FASTag” to support transparency. Hence, it stops multiple tags from being issued for one vehicle or the existing tags from being misused.
Is KYV Mandatory for FASTag?
Yes, the process of KYV completion is a must for all FASTag users in India. NPCI has given an update that every tag needs to be verified through KYV to be valid. The users who do not complete the process will have their tags deactivated, thereby making them unable to use e-toll payment.
What Does KYV Stand For?
The meaning of KYV is Know Your Vehicle. Just like KYC (Know Your Customer), KYV is about verifying the vehicle’s details, which include the registration number, the owner’s details, and the proper location of the FASTag. It is guaranteed that all the vehicle data is in line with the FASTag records.
What is the Process of Verifying Your Vehicle under KYV?
In order to carry out KYV, it is a must for the users to go to the website or mobile app of their FASTag issuer. After logging in with their registered mobile number, the users have to choose their vehicle and upload:
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The vehicle’s Registration Certificate (RC).
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Photographs revealing the vehicle’s number plate, and front and side views.
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An unambiguous photograph of the FASTag sticker that is on the windshield.
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The verification process results in the FASTag being active and compliant.
What are the Consequences for FASTag Users Who Do Not Complete KYV?
Blocking or deactivation of FASTag could be the result of issuing banks when a FASTag user is not able to or simply does not complete the KYV. This, in turn, means that such users will not have access to digital toll payment methods and will have to use cash, which would lead to prolonged waits and make the whole toll plaza situation more inconvenient for them.
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