Before March 15, the NHAI requests that Paytm FASTag customers transfer to another bank: This is the reason

Paytm Payments Bank FASTags will no longer enable top-up or recharge functions as of March 15, 2024. In light of this, the National Highways Authority of India (NHAI) recommended Paytm FASTag customers get a fresh FASTag issued by a different bank by March 15th. This advice was given on Wednesday.
As a result, traveling on National Highways will be free of fines or additional fees, according to a statement from the Ministry of Road Transport & Highways.

According to the Reserve Bank of India’s (RBI) recommendations about limitations on Paytm Payments Bank, users of Paytm FASTags will not be able to top up or recharge their balance from March 15.

The Reserve Bank of India (RBI) states that, up until the available amount is exhausted, current FASTags may still be used for toll payments.

“For any further queries or assistance related to Paytm FASTag, users can reach out to their respective banks or refer to the FAQs provided on the Indian Highway Management Company Limited (IHMCL) website,” said the ministry.

All Paytm FASTag users have been asked by the NHAI to take preventative action in order to guarantee a smooth travel experience on the nation’s national highways.

In order to facilitate the smooth migration of “@paytm” handles, the central bank requested last month that the National Payments Corporation of India (NPCI) make backup plans for users of Paytm Payments Bank Ltd (PPBL)’s Unified Payments Interface (UPI).

“It is reiterated that the holders of FASTag and National Common Mobility Cards (NCMC) issued by Paytm Payments Bank, may make alternative arrangements before March 15, 2024, to avoid any inconvenience,” the RBI said.

Moreover, the RBI has instructed PPBL merchants and consumers to transfer their accounts to other banks before to the same deadline; in exchange, PPBL has been given an additional 15 days to conclude its business.