The Reserve Bank of India has extended the deadline for PayTm FASTag customers to stop top-up facility and transfers in accounts using PayTm Payments Bank. The central bank has pushed back the deadline to March 15, after earlier issuing a order to stop deposits from February 29. After the deadline, PayTm FASTags will no longer be functional as per the directive by the RBI.
NHAI had earlier delisted PayTm as one of the authorised banks to issue FASTags, and the PayTm Payments Bank will now have to comply with the RBI’s extended deadline. The FASTags issued by PayTm will continue to work until the balance lasts in individual accounts. The RBI has advised FASTag users to buy a fresh one from more than 30 other authorised banks before March 15 to avoid any inconvenience.
To deactivate PayTm FASTag account, users can do so by calling 1800-120-4210 and mentioning the Vehicle Registration Number (VRN) number. Another way to deactivate the account is by doing so online through the PayTm app, where users can click on the profile icon, head to Help & Support section and click on Chat with us to reach out to a PayTm executive.
To apply for fresh FASTags, users need to first deactivate the old one before a new one can be issued. They can do so by downloading the My FASTag app and selecting the option to buy FASTag, which will lead to an e-commerce link to purchase a new one. Alternatively, they can contact one of the authorised banks who issued FASTags, such as Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank.
The deadline for these actions is March 15, as per the latest directive by the RBI. This comes as part of the ongoing process to streamline the usage of FASTags for toll payment on highways across the country.
