It seems that the National Highway Authority of India’s (NHAI) approved list of FASTag providers no longer includes Paytm Payments Bank Ltd. (PPBL). It is now mandatory for users to get FASTags from the 32 banks on the approved list. This choice was made in response to a report released in January by the Reserve Bank of India, which said that Paytm Payments Bank was being accused of non-compliance and needed to cease operations by February 29.
What is the change’s deadline?
The deadline for Paytm Payments Bank was extended by the RBI from February 29 to March 15. Accordingly, users will be able to use their Paytm FASTag until March 15th, at which point it will stop working. Moreover, after this date, users won’t be able to top off or recharge their FASTags provided by Paytm Payments Bank.
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Why would you want to cancel your FASTag account on Paytm?
Deactivating your Paytm FASTag is required due to the ‘One Vehicle, One FASTag’ restriction. According to this regulation, a vehicle may only have one FAS tag. Users must thus get a refund and close their Paytm Payments Bank (PPBL) accounts. They can then obtain a fresh FASTag from another bank that is compliant with the rule.
How can my Paytm FASTag account be deactivated?
Take these actions to cancel your Paytm FASTag account:
1. Get the Paytm app open.
2. Select Profile.
3. Help & Support’ should be chosen.
4. Select ‘Banking Services & Payments’ by clicking.
5. Select ‘FASTag’.
Select “Chat with us” to initiate the deactivation request.
As an alternative, you can use the FASTag Paytm Portal to do it:
1. Open the FASTag Paytm Portal and login.
2. Give your registered cellphone number, FASTag number, and verification information.
3. Choose “I Want to Close My FASTag Profile” under “Help & Support.”
official website, Paytm: https://paytm.com/contact-us