Amid Paytm crisis, NHAI has advised Paytm FASTag users to obtain a new FASTag from another bank before March 15. Moreover, Paytm FASTag users will no longer have the option to recharge or top-up their balance after March 15. According to an official statement, users can continue to use the existing balance to pay tolls beyond the stipulated date.
Obtaining a new FASTag from another bank will help avoid penalties or double fee charges while commuting on National Highways, NHAI said. It also advised Paytm FASTag users to reach out to their respective banks or refer to the FAQs provided on the IHMCL (Indian Highway Management Company Limited) website.
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Last month in February, the Reserve Bank of India (RBI) advised customers and merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15. The RBI had also said withdrawal or utilisation of balances by PPBL customers from their accounts, including saving bank accounts, current accounts, prepaid instruments, FASTags, national common mobility cards, will be permitted without any restrictions, up to their available balance even beyond March 15.
FASTag is an electronic toll collection system in India, 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 or directly toll owner.
(With inputs from PTI)
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Paytm FASTag users asked to procure new tags from another bank by…
