Have Paytm FASTag? Read more to find out how to continue having a seamless experience with toll payments.
National Highways Authority of India (NHAI) issued an official statement on March 13th stating that Paytm FASTag users would not be allowed to top-up or recharge their balances after 15th March 2024 and should shift to other bank channels to have a seamless travelling experience.
To avoid any inconvenience, double fee charges or penalties at toll plazas, the authority has advised people to obtain a new FASTag from some other bank from the revised list, as soon as possible.
The list includes close to 39 Banks and NBFCs which are approved by the NHAI to provide FASTag services to the users. Airtel Payments Bank, Canara Bank, Bank of Baroda, ICICI Bank, HDFC Bank, Kotak Mahindra Bank, and State Bank of India are some of the popular ones from the list.
The revised list of FASTag providers aim to offer vehicle owners a broader range of options, and seamless transition.
In addition to the guidelines provided by the Reserve Bank of India, NHAI has removed Paytm Payments Bank Limited (PPBL) from the approved FASTag providers list. While Paytm has been given a deadline till 15th March, the RBI was clear that the accounts cannot be transferred between banks.
The users are requested to close their FASTag accounts with Paytm and request a refund. However, to ensure that no one faces any inconvenience, the users would still be able to use the existing money in their accounts.
The process is done to ensure and accommodate RBI’s efforts in regulating the Digital Payments landscape in India.
For more information and FAQs visit - https://ihmcl.co.in/fastag-user/
