🚗 KYV: Know Your Vehicle – What It Is and Why It’s Important
Just like KYC (Know Your Customer) is required for bank accounts, KYV (Know Your Vehicle) is a process to verify the ownership and details of a vehicle linked to a FASTag. FASTag is an electronic toll collection system in India, and KYV ensures that toll payments are properly linked to the rightful vehicle owner.1. 🔹 What is KYV?· KYV stands for Know Your Vehicle.· It is a verification process for vehicles using FASTag at toll plazas.· The process confirms the vehicle’s registration number, owner details, and FASTag account to prevent misuse or fraud.2. 💡 Why KYV is Required for FASTag· Ensures secure toll collection by linking the FASTag to the correct vehicle.· Prevents misuse of FASTag if it is stolen or transferred to another vehicle.· Mandatory to avoid paying cash at tolls. Once KYV is not completed, vehicles may be required to pay toll charges in cash.· Helps regulatory authorities track toll usage and improve transparency.3. 🔹 How to Complete KYV for FASTag· Step 1: Visit your FASTag provider’s app or website.· Step 2: Provide vehicle details like registration number, RC (Registration Certificate), and owner ID.· Step 3: Submit the documents for verification.· Step 4: Wait for confirmation. Once verified, your FASTag is fully activated and ready for toll payments.Some banks or FASTag providers may allow digital verification through your mobile app, making the process faster and paperless.4. ⚠️ Consequences of Not Completing KYV· Toll plazas may deny FASTag payments, forcing you to pay in cash.· Frequent delays or penalties may apply if KYV is not done on time.· FASTag accounts may be temporarily deactivated until verification is complete.5. 🔹 Key Takeaways· KYV is as important for your vehicle as KYC is for your bank account.· Completing KYV ensures seamless FASTag usage, reduces toll hassles, and avoids fines.· Make it a priority to verify your vehicle before driving through toll plazas. Disclaimer:The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.