The National Highways Authority of India (NHAI) had removed Paytm from the list of banks and NBFCs issuing Fastag. Now, it has released a new list of Fastag issuers.
The National Highways Authority of India (NHAI) ordered the closure of Paytm Payments Bank Limited (PPBL) due to non-compliance with payments bank regulations and supervisory concerns by the Reserve Bank of India (RBI). After which it has been removed from the list of banks and NBFCs issuing FASTag. Now, it has released a new list of Fastag issuers.
Seamless travel with @fastagofficial! Get your #FASTag today from authorized banks and experience a smoother journey on the National Highways.
Visit https://t.co/nMiS3NekdS or https://t.co/kQH5AjHpKD to know more! pic.twitter.com/YFaDpVsD0P— NHAI (@NHAI_Official) March 7, 2024
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There are a total of 39 banks and NBFCs in the revised list that are eligible to issue FASTag to vehicle owners. The banks and NBFCs included in the revised list of Fastag issuers authorized by NHAI include – Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank Limited, Bandhan Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank Limited, Cosmos Bank, Dombivali Nagari Sahakari Bank, Equitas Small Finance Bank, Federal Bank, Fino Payment Bank, HDFC Bank, ICICI Bank, IDBI Bank, IDFC First Bank, Indian Bank, Indian Overseas Bank, IndusInd Bank, Jammu and Kashmir Bank, Karnataka Bank, Karur Vyas Bank, Kotak Mahindra Bank, Livquick Technology Private Limited, Nagpur Nagpur Cooperative Bank Limited, Punjab Maharashtra Bank, Punjab National Bank, Saraswat Bank, South Indian Bank, State Bank of India, Syndicate Bank, The Jalgaon People’s Co-op Bank, Thrissur District Co-op Bank, UCO Bank, Union Bank of India and Yes Bank.
After the removal of Paytm Payments Bank Limited from the list of FASTag issuing banks, many vehicle owners had purchased FASTag from PPBL. They will now have to purchase Fastag from any other issuing bank. However, they can continue to use the existing Paytm Fastag as long as there is any balance in their account. However, NHAI and RBI have stated that no top-up will be allowed in Paytm Fastag accounts after March 15, 2024. Therefore, Paytm FASTag users are advised to purchase a new FASTag from any other authorized bank.
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