The National Highways Authority of India (NHAI) has advised One97 Communications’s Paytm FASTag users to use different FASTags issued by different banks by March 15.
FASTag is a device that uses radio frequency identification (RFID) technology to make toll payments directly while the vehicle is in motion, as per the National Electronic Toll Collection.
“This will help in avoiding penalties or any double fee charges while commuting on National Highways,” reads a release by the Press Information Bureau. This comes after the RBI issued restrictions on Paytm Payments Bank from doing credit transactions or accepting deposits due to "persistent non-compliance and continued material supervisory concerns.
“In line with the guidelines issued by the Reserve Bank of India regarding restrictions on Paytm Payments Bank, Paytm FASTags users will not be able to recharge or top up the balance after March 15, 2024. However, they can use their existing balance to pay the toll beyond the stipulated date,” the release adds. The NHAI has revised its roster of approved banks and non-banking financial companies eligible to distribute FASTags. It has removed Paytm Payments Bank from the list.
In case of any query with regards to Paytm FASTag, one can reach out to their respective bank. Similarly, one can also check out the FAQs on the Indian Highways Management Company Limited (IHMCL) website.
To know what one can use after March 15 regarding Paytm Payments Bank, one can go through this article.
