IHMCL has mentioned it’s encouraging FASTag customers to finish the ‘Know Your Customer’ (KYC) means of their newest FASTag as per RBI tips. (Representative picture)
IHMCL mentioned for trouble-free journey, purchase your FASTag from 32 authorised banks.
Indian Highways Management Company Ltd (IHMCL), toll accumulating arm of state-owned NHAI, has suggested freeway customers to purchase FASTags from 32 authorised banks sans Paytm Payments Bank for trouble-free journey.
In a submit on X, IHMCL mentioned for trouble-free journey, purchase your FASTag from 32 authorised banks.
Also Read: Is Paytm FASTag Working? Can You Transfer Or Close Your FASTag Account, All Questions Answered
The 32 authorised banks embody 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.
On January 31, the Reserve Bank directed Paytm Payments Bank (PPBL) to cease accepting deposits or high-ups in any buyer accounts, wallets, FASTTags and different devices after February 29.
Also Read: Is Paytm Hiring Amid Crisis? Firm Claims High Interest from Top Talents
Customers are allowed to make use of the steadiness 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 steadiness is out there.
However, any curiosity, cashbacks, or refunds could also be credited again to prospects anytime.
The course adopted persistent non-compliances and continued materials supervisory considerations, the central financial institution had mentioned in an announcement.
IHMCL has mentioned it’s encouraging FASTag customers to finish the ‘Know Your Customer’ (KYC) means of their newest FASTag as per RBI tips.
With a penetration fee of round 98 per cent and over 8 crore customers, FASTags, primarily based on radio frequency identification (RFID) expertise, permit customers to pay freeway toll prices instantly from the linked financial institution accounts.
What Is FASTag?
In India, FASTag is an digital toll assortment system that makes use of Radio Frequency Identification (RFID) expertise for making seamless and cashless funds at toll plazas. It’s like a pay as you go tag affixed to your automobile’s windshield that will get scanned mechanically as you cross by means of a toll sales space, eliminating the necessity to cease and pay manually.
FASTag has been necessary for all autos in India since February 15, 2021.
Dedicated FASTag lanes can be found at many toll plazas for quicker clearance.
(With PTI inputs)
