NHAI: In order to maintain a seamless travel experience and prevent inconvenience at toll plazas, NHAI has recommended Paytm FASTag users obtain a new FASTag from another bank before March 15th, according to an official statement released on Wednesday. According to the statement, this will assist in preventing fines or additional fees when travelling on national highways.
NHAI urges Paytm FASTag users to switch
Users won’t be able to top off or recharge their Paytm FASTag balances after March 15, 2024, in accordance with Reserve Bank of India instructions regarding restrictions on Paytm Payments Bank. Beyond this period, they can still use their current balances to pay for tolls.
NHAI stated, “In line with the guidelines issued by the Reserve Bank of India regarding restrictions on Paytm Payments Bank, the Paytm FASTags users will not be able to recharge or top-up the balance post 15th March 2024. However, they can use their existing balance to pay the toll beyond the stipulated date.”
Paytm Payments Bank Ltd. (PPBL) was not included in the most recent list of banks and financial institutions that the highway authority approved to issue FASTags.
39 organisations are now on the updated list, including, among others, Airtel Payments Bank, Axis Bank Ltd., Bandhan Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Kotak Mahindra Bank, Punjab National Bank, State Bank of India, and Yes Bank.
How to switch?
- Block the FASTag you now have.
- Apply for a new FASTag from the new bank and link it to your car.
- Transfer amount from previous FASTag
- Install the FASTag on the windscreen.
- Check the FASTag account.
You will be required to present the required paperwork, including your certificate of car registration. Until your previous FASTag is deactivated, you are unable to complete KYC for a new one.
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