Paytm
| March 14, 2024, 4:51 a.m.
NHAI Advises Paytm FASTag Users to Obtain New FASTag from Another Bank Amid Crisis
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.
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RBI Imposes ₹5.39 Crore Penalty on Paytm Payments Bank for Violating Norms
| Oct. 13, 2023, 12:01 p.m.
RBI Imposes ₹5.39 Crore Penalty on Paytm Payments Bank for Violating Norms
The Reserve Bank of India (RBI) has imposed a penalty of ₹5.39 crore on Paytm Payments Bank for breaching a series of financial norms. This action underscores the central bank's commitment to enforcing regulatory compliance in the financial sector.
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