Starting from March 15, 2024, Paytm Payments Bank FASTags will no longer be supporting top-up or recharge functionalities. Considering this, the National Highways Authority of India (NHAI) on Wednesday advised Paytm FASTag users to procure a new FASTag issued by another bank before March 15.
This will help in avoiding penalties or any double fee charges while commuting on National Highways, the Ministry of Road Transport & Highways said in a statement.
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.
However, as per the Reserve Bank of India (RBI), existing FASTags can still be used for toll payments until the available balance is utilized.
"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 Highway Management Company Limited (IHMCL) website," said the Ministry.
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.
Last month, the central bank asked the National Payments Corporation of India (NPCI) to ensure alternative arrangements for customers using the Unified Payments Interface (UPI) of Paytm Payments Bank Ltd (PPBL) so that '@paytm' handles can be migrated in a seamless manner.
"It is reiterated that the holders of FASTag and National Common Mobility Cards (NCMC) issued by Paytm Payments Bank, may make alternative arrangements before March 15, 2024, to avoid any inconvenience," said the RBI.
Furthermore, the RBI has advised PPBL customers and merchants to shift their accounts to other banks before the same deadline, with PPBL being granted a 15-day extension to wrap up its operations.
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Inputs from IANS
