Paytm Fastag. (File photograph
FASTag is a handy method to pay tolls electronically in India.
Paytm Payments Bank (PPBL) can not supply FASTag companies. This is as a result of the Reserve Bank of India (RBI) has prolonged its deadline to stop operations till March 15, 2024. As a outcome, PPBL was faraway from the listing of authorised FASTag suppliers.
Also Read: Will @Paytm UPI Work After March 15? Here’s What Users Need To Know
FASTag is a handy method to pay tolls electronically in India. Operated by the National Highways Authority of India (NHAI), it makes use of Radio Frequency Identification (RFID) know-how. This permits drivers to breeze by means of toll plazas with out stopping, because the toll quantity is mechanically deducted from their linked financial institution accounts.
Indian Highways Management Company Ltd (IHMCL), toll accumulating arm of state-owned NHAI, not too long ago suggested freeway customers to purchase FASTags from 32 authorised banks sans Paytm Payments Bank for problem-free journey.
Best FASTag Service Provider In India
Users have a protracted listing of decisions to purchase a FASTag. You can buy a FASTag from 32 authorised banks.
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.
The banks authorised for issuing FASTags additionally embody;
- Union Bank of India
- Thrissur District Cooperative Bank
- South Indian Bank, Saraswat Bank
- Nagpur Nagrik Sahkari Bank
- Kotak Mahindra Bank
- Karur Vyasya Bank
- J&Ok Bank
- IndusInd Bank
- Indian Bank
- IDFC First Bank
- FINO Bank
- Equitable Small Finance Bank
- Cosmos Bank
- City Union Bank
- Central Bank of India
- Canara Bank
- Bank of Maharashtra
- AU Small Finance Bank
- Axis Bank.
On January 31, the Reserve Bank of India directed PPBL to cease accepting deposits or prime-ups in any buyer accounts, wallets, FASTTags and different devices after February 29.
However, RBI on Friday, in a set of FAQs, stated that customers can proceed to make use of FASTag to pay tolls upto the accessible stability. However, no additional funding or prime-ups will probably be allowed within the FASTags issued by Paytm Payments Bank after March 15, 2024.
It is recommended that you just procure a brand new FASTag issued by one other financial institution earlier than March 15, 2024 to keep away from an inconvenience.
