Paytm Crisis: If your FASTag is linked to Paytm Payments Bank, then there may be trouble at the toll plaza. In fact, the National Highway Authority of India (NHAI) has excluded it from the list of 30 banks registered for Fastag service. If your Fastag was also in Paytm Payments Bank, then you can deactivate it and also port it.
Paytm Crisis: If your FASTag is linked to Paytm Payments Bank, then there may be trouble at the toll plaza. In fact, the National Highway Authority of India (NHAI) has excluded it from the list of 30 banks registered for Fastag service. NHAI has taken this decision because the company is facing regulatory action in a matter related to violation of rules. If your Fastag was also in Paytm Payments Bank, then you can deactivate it and also port it. Here we are telling you the method.
Can FASTag be ported, or will it have to be deactivated? Apart from this, an important question is that how does one switch to another FASTag? The bank regulator ordered on January 31 that PPBL will have to stop accepting deposits or ‘top-up’ customers’ accounts, wallets, Fastag and other products after February 29. But even before that, NHAI has given a blow to Paytm.
How to deactivate Paytm FASTag
1. Login to Fastag Paytm portal. User ID, wallet ID and password will have to be entered in this.
2. Now Fastag number, registered mobile number and many other information required for verification will have to be entered.
3. Scroll down the page and click on the Help and Support option.
4. Now tap on ‘Need Help With Non-Order Related Queries?’
5. After this select the Queries option related to updating Fastag profile.
6. Here I want to close my Fastag option has to be selected and further steps have to be followed.
How to port FASTag from Paytm
1. To port or transfer FASTag from Paytm, call the customer care of the bank to which you are transferring your FASTag.
2. Tell them you want to switch.
3. Provide the required information and the porting will be done.
According to Paytm’s statement, the RBI notice will not affect the deposits in users’ savings accounts, wallets, Fastag and NCMC accounts.
These banks have approval for FASTag Services
NHAI has included Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Cosmos Bank, in the list of 30 banks registered for Fastag services. Equitas Small Finance Bank and Federal Bank. Apart from this, the list of authorized banks includes Fino Payments Bank, HDFC Bank, ICICI Bank, IDBI Bank, IDFC First Bank, Indian Bank, IndusInd Bank, J&K Bank, Karnataka Bank, Karur Vysya Bank, Kotak Mahindra Bank, Nagpur Nagrik Cooperative Bank, Punjab National Bank, Saraswat Bank are also included. State Bank of India (SBI), Thrissur District Cooperative Bank, UCO Bank, Union Bank of India and Yes Bank are also in the list. Earlier, Paytm Payments Bank was also in this list, which has been removed from this list.
How and what does FASTag work?
Fastag is a device that collects toll payments directly from the account of speeding vehicles through Radio Frequency Identification (RFID) technology. Fastag (RFID tag) chip is installed on the front windshield of the vehicle. An account is linked to it from which toll money is deducted directly from the account. There are more than 750 toll plazas installed on all the National Highways and more than 100 State Highways of the country. NHAI Fastag is managed by Indian Highways Management Company.
