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Procure FASTags from another bank: National Highways Authority of India to Paytm users

Procuring new FASTags will help in avoiding penalties or any double fee charges while commuting on National Highways, said authorities in a press release.

What’s the news: National Highways Authority of India (NHAI) has issued an advisory to Paytm FASTag users to procure a new FASTag from another bank before March 15, 2024. As per a press release by the Ministry of Road Transport & Highways, procuring new FASTags will help in avoiding penalties or any double fee charges while commuting on National Highways.

“In line with the guidelines issued by the Reserve Bank of India [RBI] regarding restrictions on Paytm Payments Bank, the Paytm FASTags users will not be able to recharge or top-up the balance post 15th March 2024. However, they can use their existing balance to pay toll beyond the stipulated date,” said the Ministry.

RBI pushing for FASTag switch since January: Earlier, on January 31, 2024, the RBI issued an order banning Paytm Payments Bank Limited (PPBL) from carrying out a wide range of activities including FASTags due to persistent non-compliance and continued material supervisory concerns in the bank.

Later in February, the RBI said Paytm FASTag users can pay tolls up to the available balance even after March 15 but pushed for users to procure new FASTags nonetheless since customers will be unable to add funds post deadline. It suggested the same for the National Common Mobility Card (NCMC) issued by Paytm.

The Indian Highways Management Company (IHMCL), under the NHAI, also barred Paytm Payments Bank from issuing fresh FASTags on January 30 after conducting an audit on the company. Paytm was further barred from taking up new toll plazas where users could activate their FASTags.

Note: The headline was edited to fix a typographical error on 14/03/2024 at 14:46 pm.

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I'm interested in the shaping and strengthening of rights in the digital space. I cover cybersecurity, platform regulation, gig worker economy. In my free time, I'm either binge-watching an anime or off on a hike.

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