Last Updated: March 13, 2024, 11:46 IST
There are 39 banks and NBFCs on the up to date checklist which are certified to supply FASTags to car house owners.
The NHAI has deleted Paytm Payments Bank Ltd (PPBL) from its checklist of permitted FASTag issuers and launched an up to date checklist.
After the Reserve Bank of India (RBI) ordered the closure of Paytm Payments Bank owing to non-compliance and supervisory considerations, the National Highway Authority of India (NHAI) eliminated Paytm Payments Bank Ltd (PPBL) from its checklist of FASTag issuing NBFCs and banks. It has now launched an up to date checklist of FASTag issuers. There are 39 banks and NBFCs on the up to date lists which are certified to supply FASTags to automobile house owners.
Despite the RBI’s resolution to increase the deadline for Paytm Payments Bank from February 29 to March 15, it has emphasised in its FAQ that Fastags will not be interchangeable. Customers ought to shut their Fastag accounts with PPBL and apply for a refund. They will then should get a brand new Fastag from one other financial institution.
“Seamless travel with fastagofficial! Get your FASTag today from authorized banks and experience a smoother journey on the National Highways. Visit https://fastag.ihmcl.com or https://netc.org.in/request-for-netc-fastag to know more!,” the official account of NHAI posted on X (FormerlyTwitter).
The NBFCs and banks listed on the revised checklist of FASTag issuers permitted by the NHAI are Airtel Payments Bank, Allahabad Bank, Bandhan Bank, Bank of Baroda, Central Bank of India, City Union Bank Ltd, AU Small Finance Bank, Axis Bank Ltd, Bank of Maharashtra, Canara Bank, Cosmos Bank, Equitas Small Finance Bank, Federal Bank, Fino Payment Bank, Dombivli Nagari Sahakari Bank, HDFC Bank, IDBI Bank, IDFC First Bank, ICICI Bank, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Indian Overseas Bank, J&Ok Bank, Kotak Mahindra Bank, Nagpur Nagarik Sahakari Bank Ltd, Punjab Maharashtra Bank, LivQuik Technology Pvt Ltd, Punjab National Bank, Saraswat Bank, State Bank of India, Syndicate Bank, South Indian Bank, The Jalgaon People’s Co-op Bank, UCO Bank, Union Bank of India, Thrissur District Cooperative Bank, and Yes Bank.
After Paytm Payment Bank Ltd was faraway from the checklist of FASTag issuing banks, many car house owners who beforehand bought FASTag from the PPBL at the moment are required to buy FASTag from every other issuing financial institution. They can, nevertheless, maintain utilizing their current Paytm FASTag till their account has a stability.
The NHAI and RBI have introduced that no extra Paytm FASTag account topping-ups will likely be permitted after March 15, 2024. As a end result, Paytm FASTag customers should purchase a brand new FASTag from one other authorised financial institution.
