FASTags authorised banks: The Nationwide Freeway Authority of India (NHAI) has up to date the record of licensed banks and non-banking monetary firms (NBFCs) which may situation FASTags. The revised record doesn’t embrace Paytm Funds Financial institution has been faraway from the record of authorised banks for FASTags. The record of authorised banks consists of Airtel Funds Financial institution, HDFC Financial institution, ICICI Financial institution, and the State Financial institution of India, amongst others.
The Reserve Financial institution of India (RBI) has prohibited Paytm Funds Financial institution Ltd (PPBL) from conducting sure operations, together with these associated to FASTags, resulting from non-compliance and supervisory considerations. Earlier in January, the RBI had suggested prospects in addition to retailers of PPBL to shift their accounts to different banks by March 15.
The Indian Highways Administration Firm Ltd (IHMCL), chargeable for toll assortment on highways, has additionally suggested travellers to buy FASTags from authorised banks, excluding Paytm Funds Financial institution (PPBL) for seamless journey.
As of March 15, 2024, FASTags issued by Paytm Funds Financial institution will not help top-up or recharge functionalities. Nonetheless, in response to the Reserve Financial institution of India (RBI), travellers can nonetheless use their current FASTags to pay tolls till the accessible steadiness is exhausted. Moreover, the RBI has instructed PPBL prospects and retailers to transition their accounts to different banks by the identical date, offering a 15-day extension to PPBL to wind down its operations.
Full record of authorised banks/NBFCs
- Airtel Funds Financial institution
- Allahabad Financial institution
- AU Small Finance Financial institution
- Axis Financial institution Ltd
- Bandhan Financial institution
- Financial institution of Baroda
- Financial institution of Maharashtra
- Canara Financial institution
- Central Financial institution of India
- Metropolis Union Financial institution Ltd
- Cosmos Financial institution
- Dombivli Nagari Sahakari Financial institution
- Equitas Small Finance Financial institution
- Federal Financial institution
- Fino Cost Financial institution
- HDFC Financial institution
- ICICI Financial institution
- IDFC First Financial institution
- Indian Financial institution
- Indian Abroad Financial institution
- IndusInd Financial institution
- J&Ok Financial institution
- Karnataka Financial institution
- Karur Vysya Financial institution
- Kotak Mahindra Financial institution
- LivQuik Expertise Pvt Ltd
- Nagpur Nagarik Sahakari Financial institution Ltd
- Punjab Maharashtra Financial institution
- Punjab Nationwide Financial institution
- Saraswat Financial institution
- South Indian Financial institution
- State Financial institution of India
- Syndicate Financial institution
- The Jalgaon Folks’s Co-op Financial institution
- Thrissur District Cooperative Financial institution
- UCO Financial institution
- Sure Financial institution
What are the advantages of utilizing FASTag?
- Ease of fee – No want to hold money for the toll transactions, saves time.
- On-line Recharge – Tag will be recharged on-line by way of MyFASTag App together with
- Debit Card / NEFT/ RTGS or Web banking by way of Cost Gateway
- SMS alerts for toll transactions, low steadiness, and many others
- On-line Portal for patrons.
Additionally Learn: GST rule change, FASTag deactivation amongst key monetary modifications in March 2024 | Examine record
Additionally Learn: Are you able to proceed to make use of Paytm FASTag for toll funds? Examine RBI FAQs for patrons
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