NHAI Updated The Issuers Banks List: Paytm Bank Delisted From FASTag
By: Geetanjali
After the RBI (Reserve Bank of India) restricted PPBL (Paytm Payments Bank Limited) from operating its banking operations due to the non-compliance of the RBI’s policy and supervisory concerns, and completely shut down its banking operations by March 15, 2024. Is also delisted from the issuer’s banks list of FASTag.
The NHAI (National Highway Authority of India) has revised its list of authorised banks and Non-banking financial institutions that can issue FASTags. Posting of X, NHAI presented its update list of issuing bodies:
Seamless travel with @fastagofficial! Get your #FASTag today from authorized banks and experience a smoother journey on the National Highways.
Visit https://t.co/nMiS3NekdS or https://t.co/kQH5AjHpKD to know more! pic.twitter.com/YFaDpVsD0P— NHAI (@NHAI_Official) March 7, 2024
The updated list by NHAI includes 39 financial institutions and banks as the issuers of FASTag will including.
| Airtel Payments Banks | Allahabad Bank | AU Small Finance Bank | Axis Banks Limited | Bandhan Banks |
| Bank of Baroda | Bank of Maharashtra | Canara Bank | Central Bank of India | City Union Bank Ltd |
| Karnataka Bank | J&K Bank | Induslnd Bank | Indian Overseas Bank | Cosmos Bank |
| Karur Vysya Bank | Kotak Mahindra Bank | LivQuik Technology Pvt Ltd. | Yes Bank | Union Bank of India |
| UCO Bank | Indian Bank | IDFC FIRST Bank | IDBI Bank | ICICI Bank |
| HDFC Bank | Fino Payments Bank | Federal Bank | Nagpur Nagarik Sahakari Bank Ltd | Punjab Maharashtra Bank |
| Punjab National Bank (PNB) | Saraswat Bank | South Indian Bank | State Bank of India (SBI) | Syndicate Bank |
| The Jalgaon Peoples Co-op Bank | Thrissur District Cooperative Bank | Dombivli Nagari Sahakari Bank | Equitas Small Finance Bank |
People won’t be able to use PPBL for FASTag after March 15, 2024,but will still be able to use their remaining balance in their Paytm Payments Bank account for FASTag. As per RBI no further top-ups or recharge of FASTag accounts from the Paytm wallet will be allowed to the users.
FASTag has answered some of the FAQ’s on the topic in a post on X.
For any queries related to FASTag issued by Paytm Payments Bank, please read FAQ issued by RBI at https://t.co/1WkQ1z2Vqj@NHAI_Official @MORTHIndia pic.twitter.com/blPeDMVXdh
— FASTagOfficial (@fastagofficial) March 6, 2024
