Adversitement
NHAI Advises Paytm FASTag Users to Obtain New FASTag from Another Bank Amid Crisis
Published On : 2024-03-14T10:21:43+0530 [ IST ] |
Author : Mayur_Tembhare
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Amid the ongoing crisis involving Paytm, the National Highways Authority of India (NHAI) has issued important guidance for Paytm FASTag users, urging them to take action before March 15.
NHAI advises Paytm FASTag users to acquire a new FASTag from another bank before March 15 to ensure uninterrupted toll payment services on National Highways. After March 15, Paytm FASTag users will no longer have the option to recharge or top-up their balances. However, they can continue using their existing balance for toll payments.
The NHAI stresses the significance of obtaining a new FASTag from another bank to avoid penalties or double fee charges while traveling on National Highways. Users are encouraged to reach out to their respective banks or consult the FAQs provided on the IHMCL (Indian Highway Management Company Limited) website for further assistance.
Last month, the Reserve Bank of India (RBI) issued guidance advising customers and merchants of Paytm Payments Bank Ltd (PPBL) to transition their accounts to other banks by March 15. The RBI also confirmed that PPBL customers can withdraw or utilize balances from their accounts, including savings bank accounts, current accounts, prepaid instruments, FASTags, and national common mobility cards, without any restrictions, even beyond March 15.
FASTag, an electronic toll collection system operated by NHAI, utilizes Radio Frequency Identification (RFID) technology for toll payments directly from linked prepaid or savings accounts. Despite the ongoing crisis involving Paytm, NHAI assures the continuity of FASTag operations and underscores the importance of acquiring a new FASTag to ensure seamless toll payment services on National Highways.
Source : DNA
Tags : RBI , Paytm , RFID , electronic toll collection , FASTag , NHAI , crisis , toll payments ,
Summary : In light of the ongoing crisis surrounding Paytm, the National Highways Authority of India (NHAI) has issued guidance to Paytm FASTag users, urging them to acquire a new FASTag from another bank before March 15. Following this date, Paytm FASTag users will no longer be able to recharge or top-up their balances, although they can continue using their existing balance for toll payments. NHAI emphasized the importance of obtaining a new FASTag to avoid penalties or double fee charges while traveling on National Highways. The Reserve Bank of India (RBI) had previously advised customers and merchants of Paytm Payments Bank Ltd (PPBL) to transition their accounts to other banks by March 15. Despite the ongoing Paytm crisis, the NHAI assures the continuity of FASTag operations, an electronic toll collection system utilizing Radio Frequency Identification (RFID) technology for toll payments.
Adversitement