The National Highways Authority of India (NHAI) has come up with an advisory for the users of Paytm FASTag, asking them to switch to a different bank’s FASTag by March 15 so that they can have an uninterrupted trip at the toll plazas without any any potential fines or extra line of national highway.
The note comes in the wake the Paytm Payments Bank facing certain restrictions from the Reserve Bank of India.
Paytm FASTag holders will not be able to recharge their accounts after March 15, 2024. Funds will be maintained in the Paytm wallets even after the service stopped.
“The Paytm FASTags users will not be able to recharge or top-up the balance post 15th March 2024, due to the guidelines issued by the Reserve Bank of India regarding restrictions on Paytm Payments Bank. However, they can use their existing balance to pay toll beyond the stipulated date,” the Ministry of Road Transport & Highways explained.
NHAI has also updated the list of banks and financial institutions which are now authorised to provide ‘FASTag’. The revised list has 39 authorised entities including 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 etc.
