Indian Highways Management Company Ltd (IHMCL), toll amassing arm of state-owned NHAI, has suggested freeway customers to purchase FASTags from 32 authorised banks sans Paytm Payments Bank for trouble-free journey.
On January 31, the Reserve Bank of India directed Paytm Payments Bank (PPBL) to cease accepting deposits or prime-ups in any buyer accounts, wallets, FASTTags and different devices after February 29.
However, any curiosity, cashback, or refunds could also be credited again to prospects at any time.
“No further deposits or credit transactions or top-ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, other than any interest, cashback, or refunds which may be credited anytime,” the RBI stated.
RBI stated that the regulatory motion is towards Paytm Payment Bank Ltd and the Paytm App won’t be impacted by it.
There are a number of queries about the usage of Paytm FASTag by freeway customers. Existing Paytm FASTags with a stability on February 29, 2024, can nonetheless work till the stability is depleted. However, no additional transactions or prime-ups are potential.
Is Paytm FASTag Closed?
IHMCL has suggested freeway customers to purchase FASTags from 32 authorised banks barring Paytm Payments Bank. Earlier, IHMCL in a letter dated January 19, 2024 had barred Paytm Payments Bank from issuing contemporary FASTags. Existing Paytm FASTags with a stability on February 29, 2024, can nonetheless be used till the stability is depleted.
Is Paytm FASTag Still Working?
Customers are allowed to make use of the stability from different accounts, together with financial savings financial institution accounts, present accounts, pay as you go merchandise, FASTag and National Common Mobility Card, till the stability is out there. RBI has allowed Paytm FASTag customers to make use of their balances however they can not load these wallets with more cash after February 29.
How To Cancel Paytm FASTag?
You can deactivate Paytm FASTag, nevertheless, you can’t reactivate the identical FASTag once more. Check the steps beneath;
1. Login to the FASTag Paytm Portal. In this, one must enter the person ID, pockets ID and password.
2. Now the FASTag quantity, registered cell quantity and plenty of different particulars required for verification must be entered.
3. Scroll down the web page and click on on the Help & Support choice.
4. Now, ‘Need Help With Non-Order Related Queries?’ Tap On.
5. After this, choose the choice Queries Related to Updating FASTag Profile.
6. Here, one has to pick the choice I Want to Close My FASTag and observe the additional steps.
Paytm FASTag Transfer
How Do I Transfer Paytm FASTag To Other FASTag?
This direct switch is just not potential. You have to contact a brand new FASTag issuer (e.g., HDFC, ICICI) to buy a brand new tag and switch your car registration particulars.
FASTag can’t be transferred to the opposite occasion. If you aren’t going to make use of the registered car anymore, you’ll want to make sure the FASTag that you simply used for the car is closed.
Paytm FASTag Login
Login to the FASTag Paytm Portal. In this, one must enter the person ID, pockets ID and password.
Paytm Customer Care Number
Customer care numbers of Paytm 0120-4456456, 0120- 4770770
Paytm FASTag Customer Care Number
A person can name at 1800-120-4210 and point out the cell quantity towards which the tag has been registered together with the Vehicle Registration Number (VRN) or Tag ID.
Best FASTag Service Provider In India
Users have a protracted checklist of decisions to purchase a FASTag. You should purchase a FASTag from 32 authorised banks.
The 32 authorised banks embrace Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank, amongst others.
The banks authorised for issuing FASTags additionally embrace Union Bank of India, Thrissur District Cooperative Bank, South Indian Bank, Saraswat Bank, Nagpur Nagrik Sahkari Bank, Kotak Mahindra Bank, Karur Vyasya Bank, J&Okay Bank, IndusInd Bank, Indian Bank, IDFC First Bank, FINO Bank, Equitable Small Finance Bank, Cosmos Bank, City Union Bank Ltd, Central Bank of India, Canara Bank, Bank of Maharashtra, AU Small Finance Bank, and Axis Bank.
Paytm Payments Bank Has Around 30 per cent Market Share
A senior NHAI official informed PTI that India has over 8 crore FASTag customers and Paytm Payments Bank (PPBL) has round 30 per cent market share.
No Restrictions On Withdrawal
Withdrawal or utilisation of balances by Paytm Bank prospects from their accounts, together with financial savings financial institution accounts, present accounts, pay as you go devices, FASTags, and National Common Mobility Cards are to be permitted with none restrictions, as much as their accessible stability.
No different banking providers, apart from these, like fund transfers (regardless of identify and nature of providers like AEPS, IMPS, and so on), BBPOU and UPI facility must be offered by the financial institution after February 29, 2024.
The course adopted persistent non-compliances and continued materials supervisory considerations, the RBI had stated in an announcement.
IHMCL has stated it’s encouraging FASTag customers to finish the ‘Know Your Customer’ (KYC) means of their newest FASTag as per RBI tips.
FASTag is an digital toll assortment system in India operated by the NHAI. It employs Radio Frequency Identification (RFID) expertise to permit toll funds immediately from the linked financial institution accounts.
