Paytm FASTag users should procure a new FASTag issued by another bank before March 13, 2024, to ensure a seamless travel experience and avoid inconvenience at toll plazas, the National Highways Authority of India (NHAI) stated in an advisory on March 13.
According to the Ministry of Road Transport & Highways, this switch would help users avoid penalties or double charges while commuting on national highways.
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The advisory issued by the NHAI is in line with the guidelines issued by the Reserve Bank of India regarding restrictions on Paytm Payments Bank.
After March 15, 2024, Paytm FASTag users cannot recharge or top-up the balance. However, they can use their existing balance to pay tolls beyond the stipulated date.
"In line with the guidelines issued by the Reserve Bank of India regarding restrictions on Paytm Payments Bank, the Paytm FASTags users will not be able to recharge or top-up the balance post 15th March 2024. However, they can use their existing balance to pay tolls beyond the stipulated date," the MoRTH said in an official statement.
The Paytm Fastag users can reach out to their respective banks or refer to the FAQs provided on the Indian Highways Management Company Limited (IHMCL) website for any further queries or assistance related to Paytm FASTag, said MoRTH.
The ministry also urged all Paytm FASTag users to take proactive measures to ensure a seamless travel experience on the national highways in the country.
Meanwhile, the NHAI has updated its list of authorised banks and non-banking financial companies (NBFCs) that can issue FASTags.
The revised list includes 39 banks and NBFCs. These include prominent names such as Airtel Payments Bank, Axis Bank Ltd, Bandhan Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, and Yes Bank.
Other banks and NBFCs that have been authorised to issue FASTags are Allahabad Bank, AU Small Finance Bank, Bank of Maharashtra, Central Bank of India, City Union Bank Ltd, Cosmos Bank, Dombivli Nagari Sahakari Bank, Equitas Small Finance Bank, Federal Bank, Fino Payment Bank, Indian Bank, Indian Overseas Bank, J&K Bank, Karnataka Bank, Karur Vysya Bank, LivQuik Technology Pvt Ltd, Nagpur Nagarik Sahakari Bank Ltd, Punjab Maharashtra Bank, Saraswat Bank, South Indian Bank, Syndicate Bank, The Jalgaon People's Co-op Bank, Thrissur District Cooperative Bank, and UCO Bank.
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