Paytm Payment Bank: The National Highway Authority of India (NHAI) has advised Paytm FASTag users to get a new FASTag issued by another bank. NHAI has issued an advisory and requested all vehicle owners to get new FASTG by March 13. According to the Ministry of Road Transport and Highways, the activation of the new FAST tag will allow vehicle owners to avoid paying double toll on the highway after March 15. This advisory is issued due to RBI’s ban on Paytm Payments Bank.
RBI has banned Paytm Payments Bank.
The Reserve Bank of India banned Paytm Payments Bank from accepting deposits. The deadline is March 15. Due to this ban, now Payments Bank cannot take any deposit or top up. Due to this, Paytm Fasttag will not be able to recharge after March 15. Following RBI guidelines, NHAI issued this advisory on Wednesday.
Paytm Fasttag will not be credited after March 15.
The Ministry of Road Transport and Highways in its official statement said that as per RBI guidelines, funds cannot be deposited into Paytm Fasttag after March 15. However, people will be able to use the rest of their money. So people are being appealed to take the new FASTIG. For any other information related to Paytm Fasttag, users can also take help from FAQs available on their bank or Indian Highways Management Company website.
List of 39 banks and NBFCs issuing Fastag continues
Meanwhile, NHAI has also updated the list of FASTG issuing banks and NBFCs. 39 banks and NBFCs have been included in the new list. Among them are Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank, Bandhan Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Cosmos Bank, Dombivali Nagri Sahakari Bank, Includes Aquitas Small. Finance Bank, Federal Bank, Fino Payments Bank, HDFC Bank, ICICI Bank, IDBI Bank, IDFC First Bank, Indian Bank, Indian Overseas Bank, Indus Bank, Jammu and Kashmir Bank, Karnataka Bank, Karur Vyas Bank, Kotak Mahindra Bank, Livquick Technology Private Limited, Nagpur Citizens Cooperative Bank, Punjab Maharashtra Bank, Punjab National Bank, Saraswat Bank, South Indian Bank, State Bank of India, Syndicate Bank, Jalgaon People’s Cooperative Bank , Thrissur District Cooperative Bank, UCO Bank, Union Bank of India and Yes Bank.
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