The National Highways Authority of India (NHAI) has issued a critical advisory to users of Paytm Payments Bank FASTags, urging them to transition to FASTags issued by other banks before March 15, 2024. This recommendation follows guidelines from the Reserve Bank of India (RBI), aiming to ensure seamless toll payments and prevent penalties for users traveling on national highways.
According to the Ministry of Road Transport & Highways, the upcoming deadline marks the cessation of top-up or recharge services for Paytm FASTags. NHAI emphasizes the significance of this switch to avoid inconvenience and potential penalties, as Paytm Payments Bank FASTags will no longer be supported for toll payments after March 15.
While existing Paytm FASTags can still be utilized for toll payments until the balance is depleted, users are urged to proactively transition to FASTags issued by alternative banks to facilitate uninterrupted travel on national highways.
In light of RBI regulations, the Ministry advised Paytm FASTag users to seek assistance from their respective banks or refer to FAQs on the Indian Highway Management Company Limited (IHMCL) website for further guidance.
Last month, the RBI directed the National Payments Corporation of India (NPCI) to facilitate alternative options for customers using Paytm Payments Bank Ltd’s Unified Payments Interface (UPI), aligning with the transition process.
To avoid any inconvenience or disruptions in toll payments, NHAI underscores the importance of timely action by Paytm FASTag users to secure new FASTags from other banks before the looming deadline. This proactive measure will ensure seamless travel experiences and prevent penalties or double fee charges at toll plazas.
