Paytm FASTag users alert! NHAI wants users to procure new one from another bank by March 15

Have a Paytm FASTag? There’s an important update for you! The National Highways Authority of India (NHAI) has advised Paytm FASTag users to get a new FASTag from another bank before March 15.

This is to ensure a seamless travel experience and avoid any inconvenience at toll plazas, according to an official statement. By obtaining a new FASTag, users can avoid penalties or double fee charges while traveling on National Highways.

In line with the guidelines from the Reserve Bank of India, Paytm FASTag users will no longer be able to recharge or top-up their balance after March 15, 2024. However, they can still use the existing balance to pay tolls beyond this date.

NHAI has also recommended that Paytm FASTag users reach out to their respective banks or refer to the FAQs on the Indian Highway Management Company Limited (IHMCL) website.

In adherence to directives from the RBI, NHAI has excluded Paytm Payments Bank Limited (PPBL) from its list of approved FASTag providers. Although the RBI has granted PPBL an extension until March 15, it has clarified that FASTag accounts cannot be transferred between banks.

Customers holding FASTag accounts issued by PPBL are advised to close their accounts and request a refund. Subsequently, they should obtain a new FASTag from one of the 32 banks currently sanctioned by the NHAI. IHMCL strongly recommends users to acquire FASTag only from the updated list of authorized providers.

The NHAI's decision to remove PPBL as a FASTag provider aligns with the RBI's ongoing efforts to regulate and streamline India's digital payments landscape. Users are urged to adhere to the guidelines and transition to approved FASTag providers to ensure smooth and secure toll payments on national highways.

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