Paytm Invalid for FASTag, Says NHAI: Check Full List of 32 Authorised Banks Here

NHAI declares Paytm invalid for FASTag purchase. Check full list of authorised banks here.

Paytm not valid for FASTag Issuance. Check full list of authorized banks here.

(Photo: iStock)

The National Highways Authority of India (NHAI) has removed Paytm from the list of authorised banks to issue new FASTags. People must note down that they can no longer buy a FASTag using a Paytm. Instead, they should go for the 32 banks which have been approved valid by the NHAI for FASTag purchases. According to reports, NHAI has announced that people who have Paytm FASTags should surrender them and get new ones for uninterrupted travel.

People must remember that the Paytm FASTags will become non-functional from 29 February 2024. Some of the banks that have been declared authorised for FASTag purchase are State Bank of India, HDFC Bank, ICICI Bank, Airtel Payments Bank, and more.

The Reserve Bank issued an order on 31 January directing Paytm Payments Bank (PPBL) to cease taking deposits or top-ups in any client wallets, FASTags, accounts, or other devices on or after 29 February. Until the amount is available, customers may utilise the balance from other accounts, such as savings bank accounts, current accounts, prepaid goods, FASTag, and National Common Mobility Card. Customers may, however, request a refund, cashback, or interest at any time.

According to an official statement released by the Central Bank, "The direction followed persistent non-compliances and continued material supervisory concerns." As per IHMCL, the FASTag users must diligently follow the RBI guidelines and complete the 'Know Your Customer (KYC) process for their latest FASTag.

NHAI FASTag: Full List of Authorised Banks To Issue New FASTags

Here is the list of all authorised banks that people should use to get new FASTags.

• State Bank of India

• ICICI Bank

• Airtel Payments Bank

• HDFC Bank

• Fino Payments Bank

• IDBI Bank

• IDFC Bank

• Indian Bank

• Jammu and Kashmir Bank

• Induslnd bank

• Kotak Mahindra Bank

• Karnataka Bank

• Karur Vysya Bank

• Nagpur Nagarik Sahakari bank

• Punjab National Bank

• Sarswat Bank

• Union Bank of India

• YES Bank

• Thrissur District Cooperative Bank

• UCO Bank

• Axis Bank

• AU Small Finance Bank

• Bank of Maharashtra

• Canara Bank

• Cosmos Bank

• Bandhan Bank

• Bank of Baroda

• Federal Bank

• Equitas Small Finance Bank

• Indian Overseas Bank

• South Indian Bank

• City Union Bank