How to deactivate and get a refund from your Paytm FASTag?

Attention Paytm FASTag users! If you've been relying on Paytm for your FASTags, there's some crucial information you need to know. The National Highway Authority of India (NHAI) has directed Paytm Payments Bank Ltd (PPBL) to halt the issuance of FASTags due to regulatory concerns. The Reserve Bank of India (RBI) initially mandated PPBL to cease all banking activities by the end of February, but this deadline has been extended to March 15.

This development directly impacts the Paytm FASTag service, an electronic toll collection system widely used in India. FASTags, affixed to vehicle windshields, facilitate seamless payments through prepaid wallets. As of now, it is mandatory for all four-wheeler vehicles to have FASTags, but linking them to Paytm Payments Bank Ltd will no longer be an option.

The good news is, you can utilize your existing Paytm FASTag balance until March 15. We strongly recommend using this period to exhaust your balance and apply for a new FASTag. Starting March 16, Paytm FASTags will no longer be operational. If you're unable to do so, fret not – you can request a refund by contacting Paytm through their helpline at 1800-120-4210 or through the Paytm app. Remember to deactivate your previous FASTag account as per the 'One Vehicle, One FASTag' rule.

You can obtain a new FASTag from 32 listed banks on the NHAI website or directly from NHAI. To activate your FASTag, simply download the 'My FASTag' app from the Google Play Store or the Apple App Store.

It's essential to note that the RBI notice only applies to Paytm Payments Bank Ltd. Other Paytm services, such as the wallet and UPI system, will continue unaffected. Users who have linked their Paytm account to authorized banks like ICICI, HDFC, and others need not worry. Although you can't deposit additional funds into your Paytm Payments Bank Account, rest assured that your existing money is secure with the bank.


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