Paytm FASTag news: The National Highways Authority of India (NHAI) has apparently dropped Paytm from the list of authorised banks for issuing FASTag.
In a post on X (formerly Twitter), FASTagOfficial, the official account of FASTag under NHAI, urged people to buy their tags from authorised banks only. It also shared a list of authorised banks.
There are as many as 32 authorised banks in the new list shared by FASTagOfficial. The list doesn’t mention Paytm Fastag.
“Travel hassle-free with FASTag! Buy your FASTag today from authorised banks,” FASTagOfficial posted on Wednesday (14 February).
Full list of banks authorised for FASTag
- Airtel Payments Bank
- Allahabad Bank
- AU Small Finance Bank
- Axis Bank
- Bank of Baroda
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- City Union Bank
- Cosmos Bank
- Equitas Small Finance Bank
- Federal Bank
- FINI Payments Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- IDFC First Bank
- Indian Bank
- Indusind Bank
- J&K Bank
- Karnataka Bank
- Karur Vyasya Bank
- Kotak Mahindra Bank
- Nagpur Nagarik Sahakari Bank
- Punjab National Bank
- Saraswat Bank
- South Indian Bank
- State Bank of India
- Thrissur District Cooperative Bank
- UCO Bank
- Union Bank of India
- YES Bank
Also Read: How a SBI customer lost Rs 3.6 lakh to fraudsters and got it back from bank with 9% interest!
What will happen to Paytm Fastag?
As per media reports, people having Paytm FASTags may need to surrender them and buy new tags from authorised banks for a hassle-free ride on National Highways.
It is estimated that there are nearly 20 million Paytm FASTag users. These users may have to get new tags.
FASTag is radio frequency identification (RFID) sticker pasted on windscreens of vehicles for automated collection of toll tax.
Following a crackdown by the Reserve Bank of India on the Paytm Payments Bank, Paytm is facing a serious risk of customer exodus.
In share market, Paytm’s shares have dropped over 55% within a month. At the time of writing today, Paytm’s shares were trading at around Rs 330 per share.
