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
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