Paytm FASTag users can use balance to pay toll but no top-up after March 15: RBI

The Reserve Bank of India on Friday released a list of Frequently Asked Questions (FAQs) to inform customers in detail about business restrictions imposed on Paytm Payments Bank.

A large number of customers use Paytm FASTag to pay fees at toll plazas operated by the National Highways Authority of India (NHAI). The NHAI had earlier removed Paytm Payments Bank from its list of 30 authorised banks for the FASTag service.

Here are some FAQs on Paytm FASTag issued by the Reserve Bank of India:

I have a FASTag issued by Paytm Payments Bank. Can I continue to use it to pay toll after March 15, 2024?

Yes. You can continue to use your FASTag to pay toll up to the available balance. However, no further funding or top ups will be allowed in the FASTags issued by Paytm Payments Bank after March 15, 2024. It is suggested that you procure a new FASTag issued by another bank before March 15, 2024 to avoid any inconvenience.

I have a FASTag issued by Paytm Payments Bank. Can I recharge the balance after March 15, 2024?

No. After March 15, 2024 you will not be able to top-up or recharge your FASTag issued by Paytm Payments Bank. It is suggested that you procure a new FASTag issued by another bank before March 15, 2024 to avoid any inconvenience.

Can I transfer the balance from my old FASTag issued by Paytm Payments Bank to a new FASTag obtained from another Bank?

Credit balance transfer feature is not available in the FASTag product. Therefore, you will have to close your old FASTag issued by Paytm Payments Bank and request the bank for a refund.