Paytm Payments Bank removed from FASTag issuers list | Check full list of NHAI-authorized banks

FASTags authorised banks: The National Highway Authority of India (NHAI) has updated the list of authorized banks and non-banking financial companies (NBFCs) which can issue FASTags. The revised list does not include Paytm Payments Bank has been removed from the list of authorised banks for FASTags. The list of authorised banks includes Airtel Payments Bank, HDFC Bank, ICICI Bank, and the State Bank of India, among others.

The Reserve Bank of India (RBI) has prohibited Paytm Payments Bank Ltd (PPBL) from conducting certain operations, including those related to FASTags, due to non-compliance and supervisory concerns. Earlier in January, the RBI had advised customers as well as merchants of PPBL to shift their accounts to other banks by March 15.

The Indian Highways Management Company Ltd (IHMCL), responsible for toll collection on highways, has also advised travellers to purchase FASTags from authorised banks, excluding Paytm Payments Bank (PPBL) for seamless travel.

As of March 15, 2024, FASTags issued by Paytm Payments Bank will no longer support top-up or recharge functionalities. However, according to the Reserve Bank of India (RBI), travellers can still use their existing FASTags to pay tolls until the available balance is exhausted. Additionally, the RBI has instructed PPBL customers and merchants to transition their accounts to other banks by the same date, providing a 15-day extension to PPBL to wind down its operations.