Own a Paytm FASTag? Here’s a message for you from NHAI
NHAI’ has issued an advisory for the FASTag users, which comes in line with the guidelines issued by RBI regarding restrictions on Paytm Payments Bank
…
FASTag has suddenly become a headline-maker in the last couple of weeks since the Reserve Bank of India issued restrictions on Paytm Payments Bank. Owing to these restrictions, the National Highways Authority (NHAI) has advised Paytm FASTag users to purchase a new FASTag issued by another bank or NBFC before 15th March 2024.
Purchasing a new FASTag from any other bank or NBFC except the Paytm Payments Bank will help vehicle owners avoid penalties or any double fee charges while commuting on the national highways. According to this advisory issued by the NHAI, Paytm FASTag users won’t be able to recharge or top up the balance in their account after 15th March 2024. However, they will be able to use the existing balance available in the FASTag account beyond the stipulated date for payment of tolls on national highways.
(To purchase a new FASTag, click here)
The NHAI has already published a revised list of banks and NBFCs that are entitled to issue FASTag. The revised list has 32 banks and NBFCs which are eligible to issue FASTags. The NHAI has urged all Paytm FASTag users to take proactive measures to ensure a seamless travel experience on the national highways across the country.
Also Read : How to buy and activate FASTags online: Key steps
FASTag has become the primary mode of transaction between vehicle owners and toll plazas across India over the last few years. The chip-integrated radio frequency-based payment system has a 98 per cent penetration rate and more than eight crore users. This system has revolutionised the electronic toll payment system across India. While introducing this technology, the government stated that FASTag would ensure faster toll collection and smoother vehicular operation in toll plazas.
Also Read : How to deactivate Paytm FASTag, apply for a fresh one: Step by step guide
The FASTag is an electronic toll collection system, which is 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.
First Published Date: 14 Mar 2024, 13:20 PM IST
Post Comment
You must be logged in to post a comment.