The National Highways Authority of India (NHAI) is reportedly considering extending the deadline for its ‘One Vehicle, One FASTag’ initiative. The initiative, which was originally set to end on March 1, may now be extended by another four weeks to provide PayTm FASTag users with more time to transition amid the ongoing crisis faced by the digital payment platform.
The ‘One Vehicle, One FASTag’ initiative aims to eliminate the use of a single FASTag for multiple vehicles or vice versa. NHAI introduced the initiative earlier this month, along with a deadline for completing the KYC process to ensure that each FASTag account is linked to only one vehicle.
According to NHAI officials, PayTm FASTag users are encountering difficulties in completing the KYC process due to the ongoing crisis. In light of this situation, NHAI may extend the deadline to help users comply with the one vehicle-one FASTag norm before the RBI’s directive to cease deposits in PayTm Payments Bank on March 15.
As per the RBI’s instructions, PayTm FASTag users can continue to use their accounts after March 15 as long as there is a sufficient balance. However, no further deposits or top-ups will be allowed in PayTm FASTags issued by the Payments Bank post the designated deadline.
It is important to note that PayTm FASTags currently have the highest number of users compared to other FASTag providers, with approximately eight crore users. The FASTag system, operated by NHAI, facilitates electronic toll collection through RFID technology, deducting toll charges directly from the linked bank account.
