Remote monitoring of transmission lines of a power system is significant for improved reliability and stability during fault conditions and protection system breakdowns. This paper proposes a smart backup monitoring system for detecting and classifying the type of transmission line fault occurred in a power grid. In contradiction to conventional methods, transmission line fault occurred at any locality within power grid can be identified and classified using measurements from phasor measurement unit (PMU) at one of the generator buses. This minimal requirement makes the proposed methodology ideal for providing backup protection. Spectral analysis of equivalent power factor angle (EPFA) variation has been adopted for detecting the occurrence of fault that occurred anywhere in the grid. Classification of the type of fault occurred is achieved from the spectral coefficients with the aid of artificial intelligence. The proposed system can considerably assist system protection center (SPC) in fault localization and to restore the line at the earliest. Effectiveness of proposed system has been validated using case studies conducted on standard power system networks.