Paytm Payments Bank: The last date for the ban imposed by RBI on Paytm Payments Bank is March 15. After this, Paytm FastTag will not be topped up. Therefore, NHAI has advised to get a new Fastag.
Paytm Payments Bank: National Highway Authority of India (NHAI) has advised those using Paytm FASTag to get a new FASTag issued by some other bank. NHAI has issued an advisory and appealed to all vehicle owners to get the new Fastag by March 13. According to the Ministry of Road Transport and Highways, by getting the new FastTag activated, vehicle owners will be able to avoid paying double tolls on the highway after March 15. This advisory has been issued due to the RBI ban on Paytm Payments Bank.
RBI has banned Paytm Payments Bank
The Reserve Bank of India had banned Paytm Payments Bank from taking deposits. Its last date is 15 March. Due to this restriction, now Payments Bank cannot take any kind of deposit or top up. Due to this, Paytm FastTag will not be able to be recharged after March 15. Following the guidelines of RBI, NHAI issued this advisory on Wednesday.
Money will not be deposited in Paytm FastTag after March 15.
The Ministry of Road Transport and Highways said in its official statement that as per the guidelines of RBI, money cannot be deposited in Paytm FastTag after March 15. However, people will be able to use their remaining money. Therefore, people are being appealed to take the new Fastag. For any other information related to Paytm FastTag, users can also take the help of FAQs available on the website of their bank or Indian Highways Management Company.
List of 39 banks and NBFCs issuing Fastag released
Meanwhile, NHAI has also updated the list of banks and NBFCs issuing Fastag. 39 banks and NBFCs have been included in the new list. These include Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank, Bandhan Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Cosmos Bank, DombivaliNagariSahakari Bank, Equitas Small Finance. Bank, Federal Bank, Fino Payment Bank, HDFC Bank, ICICI Bank, IDBI Bank, IDFC First Bank, Indian Bank, Indian Overseas Bank, IndusIndBank, Jammu & Kashmir Bank, Karnataka Bank, Karur Vyas Bank, Kotak Mahindra Bank, Livquick Technology Pvt. Ltd., Nagpur Citizens Co-operative Bank, Punjab Maharashtra Bank, Punjab National Bank, Saraswat Bank, South Indian Bank, State Bank of India, Syndicate Bank, The Jalgaon People's Co-op Bank, Thrissur District Co-operative Bank, UCO Bank, Union Bank of India and Yes Bank are included.