The moratorium granted by RBI will end after two days. After March 15, the services of Paytm Payment Bank and Paytm Fastag will stop. NHAI has issued an advisory regarding Paytm Fastag. NHAI has asked people to change their Paytm Fastag.
Paytm Fastag: The moratorium given by RBI will end after two days. After March 15, the services of Paytm Payment Bank and Paytm Fastag will stop. NHAI has issued an advisory regarding Paytm Fastag. NHAI has asked people to change their Paytm Fastag. National Highways Authority of India (NHAI) has advised Paytm Fastag users to change their Fastag by March 15. NHIA has said that to get a hassle-free traveling experience and to avoid inconvenience at toll plazas, Paytm Fastag users will have to install Fastag issued by any other bank before March 15, 2024.
If you continue with Paytm Fastag, be prepared to pay double toll tax. Let us tell you that after the action of RBI on Paytm Payments Bank, Paytm Fastag users will not be able to recharge or top-up the balance amount after March 15, 2024. However, as long as he has balance in Fastag, he can use it.
NHAI issued advisory
NHAI has asked Paytm Fastag users to get a new Fastag from another bank by March 15. NHAI has advised to get a new Fastag from any other bank before March 15 to avoid inconvenience at the toll plaza. An official statement issued on Wednesday said that with this, passengers will be able to avoid fine or double toll tax while traveling on national highways.
Otherwise double toll tax will be charged
It is noteworthy that following the guidelines of the Reserve Bank of India on restrictions related to Paytm Payments Bank, Paytm Fastag users will not have the option to recharge or top-up their balance after March 15, 2024. However, they can continue to use the existing balance to pay toll even after the due date, it said. NHAI also advised Paytm Fastag users to reach out to their respective banks or refer to the FAQs given on the website of IHMCL (Indian Highway Management Company Limited).
