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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.
NHAI said that this will help in avoiding penalties or any double fee charges while commuting on National Highways, and ensure seamless travel experience and avoid inconvenience at toll plazas.
In line with the guidelines issued by the Reserve Bank of India regarding restrictions on Paytm Payments Bank, the Paytm FASTags users will not be able to recharge or top-up the balance post 15th March.
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However, they can use their existing balance to pay toll beyond the stipulated date.
According to the details shared by the RBI over the use of FASTag, users cannot transfer the balance from old FASTag issued by Paytm Payments Bank to a new FASTag obtained from another Bank.
Credit balance transfer feature is not available in the FASTag product. Therefore, they need to close the old FASTag issued by Paytm Payments Bank and request the bank for a refund.
The Indian Highways Management Company Ltd (IHMCL) had also advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments Bank for hassle-free travel.
It had advised the users to buy FASTag from 32 authorised banks including Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank, among others.
IHMCL has said it is encouraging FASTag users to complete the ‘Know Your Customer’ (KYC) process of their latest FASTag as per the RBI guidelines.
NHAI has urged all Paytm FASTag users to take proactive measures to ensure a seamless travel experience on the National Highways across the country.
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