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Paytm Payments Bank Ltd (PPBL) has been removed from the list of authorised fastag providers by the National Highway Authority of India (NHAI).
The Reserve Bank of India (RBI) clarified that fastags are not interoperable so, customers will need to close their PPBL accounts and get a refund. RBI has extended the deadline for Paytm Payments Bank from February 29 to March 15, the Times of India reported.
Indian Highways Management Company Ltd (IHMCL), has advised users to buy fastags from the authorised fastag list which includes 32 banks along with the road toll authority.
As per 'One Vehicle, One Fastag' initiative, fastag can only be linked to one vehicle. Users cannot get Know Your Customer (KYC) process done for a new fastag unless the old one is deactivated.
RBIs FAQs on PPBL mentions the same. After closing their PPBL accounts, users will have to get a new fastag from a different bank.
Here's how you can deactivate your Paytm fastag account from the app and portal:
Deactivating fastag is a permanent process, and since it cannot be reactivated, customers will have to buy a new one.
Steps for deactivation from app:
Open Paytm app.
Go to your profile.
Go to help and support.
Select fastag option from 'banking services and payments'.
Raise a deactivation request in the 'chat with us' option.
Steps for deactivation from portal:
Login to portal using your credentials.
Enter necessary details for verification.
Go to 'help and support' and choose the 'I want to close my fastag profile'.
Here's how you can buy a new fastag online:
Fastag can be bought from any of the 32 banks listed on NHAI's website and directly from the website as well.
Steps for getting a new fastag from the website:
Download 'My FASTag' app from Apple App store or Google Play store.
Go to 'buy fastag' option in the app.
An Amazon or Flipkart link will pop up for purchase.
Scan the QR code, follow instruction and activate the fastag.