According to an order issued by the Reserve Bank of India (RBI) on January 31 to Paytm Payments Bank Limited (PPBL), the banking arm of the large fintech company Paytm, about “persistent non-compliances,” customers utilizing PPBL for FASTags would need to close their current ones and create new ones after March 15.
The RBI initially prohibited Paytm Payments Bank from accepting new clients after February 29, but they later gave the deadline an extension of fifteen days. Nonetheless, there are up to five other Paytm FASTag options to take into account.
An online recharge allows a FASTag to be renewed, which reduces travel time, and fuel consumption, and improves toll-collecting efficiency by doing away with the need to make human payments.
What are the alternatives to Paytm FASTag?
NHAI FASTag
When purchased, it is not associated with any particular bank, making it bank-neutral. It is available from authorized locations like as gas stations, toll stands, internet sites, the My FasTag app, and online retailers like Amazon and Flipkart.
Kotak Mahindra Bank, HDFC Bank, SBI, and ICICI Bank
Applying for a FASTag can be done on the website of the particular lender or by going to one of their branches.
