NHAI advises Paytm FASTag users to switch to other bank FASTag before March 15

NHAI issues advisory for Paytm FASTag users to switch to other bank FASTag before March 15, 2024

To ensure seamless travel experience and avoid inconvenience at toll plazas, National Highways Authority of India (NHAI) has advised Paytm FASTag users to procure a new FASTag issued by another bank before March 15, 2024. This will help in avoiding penalties or any double fee charges while commuting on National Highways, said Ministry of Road Transport & Highways on March 13.

In line with the guidelines issued by the Reserve Bank of India (RBI) regarding restrictions on Paytm Payments Bank, the Paytm FASTags users will not be able to recharge or top-up the balance post March 15, 2024. However, they can use their existing balance to pay toll beyond the stipulated date.

For any further queries or assistance related to Paytm FASTag, users can reach out to their respective banks or refer to the FAQs provided on the Indian Highways Management Company Limited (IHMCL) website, said MoRTH. NHAI has urged all Paytm FASTag users to take proactive measures to ensure a seamless travel experience on the National Highways across the country.

Last month, the RBI had advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15.

The RBI had also said withdrawal or utilisation of balances by PPBL customers from their accounts, including saving bank accounts, current accounts, prepaid instruments, FASTags, national common mobility cards, will be permitted without any restrictions, up to their available balance even beyond March 15.

On FASTags, the RBI's FAQs had said one can continue to use them to pay tolls up to the available balance.

"However, no further funding or top-ups will be allowed in the FASTags issued by Paytm Payments Bank after March 15, 2024," it had said.

With a penetration rate of around 98 percent and over 8 crore users, FASTag has revolutionised the electronic toll collection system in the country.

FASTag is an electronic toll collection system in India, operated by the NHAI. It employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid or savings account linked to it or directly toll owner.

With inputs from PTI