New Delhi, February 20: The Reserve Bank of India (RBI) has recently taken a step that might affect all Paytm FASTag users. The RBI has directed Paytm Payments Bank to halt certain operations due to non-compliance issues. This development is important for users who rely on Paytm for their FASTag needs, as they might need to find alternative providers.

According to a report of Indian Express, Paytm FASTag might stop working after March 15. The Reserve Bank of India (RBI) has taken action against Paytm Payments Bank, directing the company to stop accepting FASTag top-ups, deposits and credit transactions for customer accounts after February 29 due to non-compliance. The deadline is extended by RBI to March 15, citing "larger public interest." Microsoft Announces To Expand Its AI and Cloud Infrastructure in Spain by Investing ‘USD 2.1 Billion’ in Next Two Years.

As per reports, the National Highway Authority of India (NHAI) has excluded PayTM Payments Bank Ltd (PPBL) from its list of authorized FASTag providers. Users might no longer be able to top up their FASTag accounts through PayTM after the ban takes effect. The PayTM FASTags might remain functional until the account balance is exhausted. The National Highway Authority of India (NHAI) allows one active FASTag for each vehicle. Since Paytm FASTags may not work after March 15, it might be necessary for users to deactivate their existing Paytm FASTag accounts once the balance is exhausted.

To deactivate a Paytm FASTag account, users need to access the Paytm app, navigate to 'Help and Support', and select the 'FASTag' option under 'Banking Services & Payments'. From there, you can chat with customer support to initiate the deactivation process. Users can also contact customer care of Paytm by providing the registered mobile number with FASTag ID or Vehicle Registration Number. Google’s AI Chatbot Gemini Beats OpenAI’s ChatGPT by 3% in Series of Comprehensive Multi-Discipline Tests: Report.

Once your Paytm FASTag is deactivated, you can purchase a new FASTag from one of the authorized banks listed by NHAI or directly from the NHAI website. To activate the new FASTag, users can also download the 'My FASTag' app, available on both Google Play Store and Apple App Store, and follow the instructions to link it to their vehicle.

(The above story first appeared on LatestLY on Feb 20, 2024 10:44 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website