- NHAI removes Paytm’s Fastag from approved list of banks for toll payments.
- Users urged to deactivate Paytm Fastags by February 29, can switch to Fastags from other authorized banks.
- Paytm no longer issuing new Fastags; consumers advised to act promptly to avoid travel disruptions.
The National Highway Authority of India (NHAI) recently made a big change affecting Paytm’s Fastag service, which has left many people in the city upset. Paytm’s Fastag has been removed from the list of authorized banks, but there’s still a way for users to deactivate their Paytm Fastags before February 29.
NHAI mentioned that to avoid any problems, people can switch to Fastags from any of the other 32 banks authorized by NHAI, excluding Paytm Payment Bank’s Fastag.
This move follows earlier actions taken against Paytm Payment Bank by the Reserve Bank of India (RBI), which had banned all services of Paytm Bank in early February. It’s reported that 6 out of every 10 vehicles in the city use Paytm Fastags, so this change is causing a major inconvenience for many consumers.
Additionally, Paytm will no longer be issuing new Fastags. Even though Paytm was previously issuing Fastags in partnership with HDFC Bank, they’ve lost the right to issue new Fastags as per the new guidelines.
The NHAI has provided a list of authorized banks for Fastag services. These banks include Union Bank of India, Thrissur District Co-operative Bank, South Indian Bank, Saraswat Bank, Nagpur Nagarik Co-operative Bank, Kotak Mahindra Bank, Karur Vyasya Bank, J&K Bank, IndusInd Bank, Indian Bank, IDFC First Bank, Fino Bank, Equitable Small Finance Bank, Cosmos Bank, City Union Bank Limited, Central Bank of India, Canara Bank, Bank of Maharashtra, AU Small Finance Bank, and Axis Bank.
This change affects many people who rely on Fastags for hassle-free toll payments. It’s important for users to take action before the deadline to avoid any disruptions in their commute.