After the Reserve Bank of India (RBI) gave an extension to Paytm Payments Bank to wind down its operation by March 15, Paytm Payments Bank Ltd (PPBL) has been removed from the list of 32 authorised banks for providing FASTag service. After March 15, as per the order, no fresh deposits will be accepted other than cashbacks, sweep-ins from partner banks, or refunds in Paytm, the RBI said while naming Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank, among others as the 32 authorised banks.
Paytm FASTags will become non-functional but users can still utilise their available balance request a refund or cashback.
Customers cannot top-up existing FASTag after March 15.
How to get new FASTag? Users can directly order FASTag from National Highways Authority of India (NHAI).