Understanding OneTag: Change FASTag banks while keeping the same tag; complete new KYC and receive a refund.

Nitin Gadkari, the Union Minister for Road Transport and Highways, launched a new initiative at the Global Fintech Fest 2026 held in Mumbai aimed at enhancing the user experience for FASTag customers. This initiative provides FASTag users greater flexibility in selecting their issuing bank, allowing them to switch banks more easily.

FASTag is an electronic toll collection system that uses RFID technology to enable cashless toll payments on national highways in India. The new facility is expected to empower users by simplifying the bank-switching process, thereby fostering competition among banks and potentially leading to better services and lower fees.

The Global Fintech Fest is a prominent event in the financial technology sector, bringing together industry leaders and innovators to discuss advancements and trends in fintech. The launch reflects the governments ongoing efforts to promote digital payments and enhance infrastructure in the country.