To ensure a hassle-free travel experience and prevent inconvenience at toll plazas, NHAI recommends Paytm FASTag users to acquire a new FASTag issued by a different bank before March 15, 2024. This advisory aims to help users evade penalties and double fee charges while commuting on National Highways, according to the Ministry of Road Transport & Highways.
Following RBI’s directives concerning restrictions on Paytm Payments Bank, users of Paytm FASTags won’t be able to recharge or top-up their balance after March 15, 2024. Nevertheless, they can utilize their existing balance for toll payments beyond the specified date.
For further assistance regarding Paytm FASTag, users can contact their respective banks or refer to the FAQs available on the Indian Highways Management Company Limited (IHMCL) website. NHAI urges all Paytm FASTag users to proactively transition to ensure a seamless travel experience on National Highways nationwide.
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Last month, RBI advised customers and merchants of Paytm Payments Bank Ltd (PPBL) to migrate their accounts to other banks by March 15.
RBI stated that PPBL customers can withdraw or utilize balances from their accounts, including FASTags, even after March 15. However, no further funding or top-ups will be permitted in FASTags issued by Paytm Payments Bank post the specified date.
FASTag, operating under NHAI, has significantly transformed electronic toll collection in India, boasting a penetration rate of approximately 98% and over 8 crore users. It utilizes Radio Frequency Identification (RFID) technology for toll payments directly from linked prepaid or savings accounts, revolutionizing the toll collection process.
