NHAI Directs Paytm FASTag Users To Buy New One From Another Bank By March 15

Paytm FASTag Deadline:  NHAI has advised Paytm Fastag users to get a new Fastag from another bank before March 15 to avoid inconvenience and travel experience at toll booths, an official statement on Wednesday said.

This will help in avoiding fines or double tolls while travelling on national highways, the release said.

In compliance with the Reserve Bank of India guidelines on restrictions related to Paytm Payments Bank, Paytm FastTag users will not be able to recharge their balances after March 15, 2024, the statement said.

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However, Paytm FASTag users can continue to use the existing balance to pay tolls beyond the March 15 deadline.

NHAI advised Paytm FastTag users to contact their respective banks or refer to the FAQs provided on the IHMCL (Indian Highway Management Company Limited) website.

Earlier, On January 31, The Reserve Bank Of India directed Paytm Payment Bank, a subsidiary company of One97 Communication, to stop accepting deposits in accounts post-February 29. However, the deadline was extended to March 15 later. The central Bank has asked the PPBL to stop it operations including Paytm FASTags after the deadline.  

(With agency inputs)

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