Paytm Payments Bank Ltd (PPBL) has been removed from the list of 32 authorised banks for providing FASTag services, the National Highways Authority of India (NHAI) announced on Friday. 

The Reserve Bank of India (RBI) extended the deadline for Paytm Payments Bank from February 29 to March 15. Consequently, Paytm FASTags will remain operational until March 15, 2024. 

However, after this date, FASTags issued by Paytm Payments Bank may become inactive if not permitted by the RBI. Users will not be able to top-up or recharge their FASTags issued by Paytm Payments Bank after this deadline.

What Is FASTag?

FASTag is an electronic toll collection system implemented in India, managed by the NHAI. It allows easy toll booth payments using prepaid wallets using Radio Frequency Identification (RFID) technology.FASTags are attached to cars' windscreens and enable the automated deduction of toll costs when vehicles pass through toll plazas, eliminating the need for human cash transactions.

Why Do You Have To Deactivate It? 

The 'One Vehicle, One Fastag' restriction requires you to deactivate your Paytm Fastag because it permits just one Fastag per vehicle. If you have funds remaining in your Paytm accounts, you can request refunds before the deadline. 

Plus, this has been highlighted by the RBI's Paytm Payment Bank FAQs, stating that Fastags are not interchangeable. Customers will thus need to get a refund and close their PPBL accounts to get a new Fastag from a different bank. 

How To Deactivate Paytm FASTag Account:

Through the Paytm app:

• Go to Profile > Help & Support > Banking Services & Payments > FASTag.

• Click on "Chat with us" to request deactivation.

Through the FASTag Paytm Portal:

• Log in to the portal.

• Provide your FASTag number, registered mobile number, and necessary details for verification.

• Under "Help & Support," select "I Want to Close My FASTag Profile."

How To Buy New FASTag Online:

• Download the "My FASTag" app from Google Play Store or Apple App Store.

• Click on "Buy FASTag" to access the e-commerce link.

• Purchase the FASTag, and it will be delivered to your address.

Full List Of Authorised Banks To Issue New FASTags

State Bank of India

ICICI Bank

Airtel Payments Bank

HDFC Bank

Fino Payments Bank

IDBI Bank

IDFC Bank

Indian Bank

Jammu and Kashmir Bank

Induslnd bank

Kotak Mahindra Bank

Karnataka Bank

Karur Vysya Bank

Nagpur Nagarik Sahakari bank

Punjab National Bank

Sarswat Bank

Union Bank of India

YES Bank

Thrissur District Cooperative Bank

UCO Bank

Axis Bank

AU Small Finance Bank

Bank of Maharashtra

Canara Bank

Cosmos Bank

Bandhan Bank

Bank of Baroda

Federal Bank

Equitas Small Finance Bank

Indian Overseas Bank

South Indian Bank

City Union Bank