 "Paytm FASTag users can't recharge or top-up after Mar 15, only use up balance: NHAI")
The National Highways Authority of India (NHAI) advised Paytm FASTag users to obtain a new FASTag issued by a different bank before March 13, 2024, to guarantee a smooth travel experience and prevent trouble at toll plazas.
The Ministry of Road Transport & Highways claims that by using this option, users will be able to travel on national highways without incurring penalties or duplicate costs.
Regarding limitations on Paytm Payments Bank, the Reserve Bank of India’s rules are in accordance with the NHAI’s advice.
Paytm FASTag customers will not be able to top off or recharge their balances after March 15, 2024. They may, however, continue to pay tolls after the designated date by using their current balance.
“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.
For any additional questions or help regarding Paytm FASTag, customers of Paytm Fastag can contact their individual banks or consult the FAQs posted on the Indian Highways Management Company Limited (IHMCL) website, according to MoRTH.
Impact Shorts
More ShortsAdditionally, the ministry asked all Paytm FASTag users to be proactive in order to guarantee a smooth travel experience across the nation’s national highways.
The list of approved banks and non-banking financial institutions (NBFCs) that are able to issue FASTags has been revised by the NHAI in the meantime.
There are 39 banks and NBFCs on the updated list. Among them are well-known institutions like IDFC First Bank, Bandhan Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank, and Airtel Payments Bank.
A number of other banks and non-bank financial companies (NBFCs) have been granted authorization to issue FASTags, including the following: 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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