FASTag Alert! No Paytm Payments Bank; Here Are The Authorized Banks For Seamless Tolling

Indian Highways Management Company Ltd (IHMCL) on Friday released a list of 32 banks where people can buy and maintain their FASTag accounts.

The toll-collecting arm of state-owned NHAI's social media post has indicated that it is not recommending people to use Paytm Payments Bank.

Recently, the RBI ordered Paytm Payments Bank to stop accepting new deposits in its accounts or popular digital wallets beginning March, citing supervisory concerns and non-compliance with rules.

In a post on X, IHMCL said for hassle-free travel, buy your FASTag from 32 authorised banks.

Here is the list of 32 authorised banks to buy Fastags:

• Airtel Payments Bank
• Allahabad Bank
• Bank of Baroda
• HDFC Bank
• ICICI Bank
• IDBI Bank
• Punjab National Bank
• State Bank of India
• Yes Bank
• Union Bank of India
• Thrissur District Cooperative Bank
• South Indian Bank
• Saraswat Bank
• Nagpur Nagrik Sahkari Bank
• Kotak Mahindra Bank
• Karur Vyasya Bank
• J&K Bank
• IndusInd Bank
• Indian Bank
• IDFC First Bank
• FINO Bank
• Equitable Small Finance Bank
• Cosmos Bank
• City Union Bank Ltd
• Central Bank of India
• Canara Bank
• Bank of Maharashtra
• AU Small Finance Bank
• Axis Bank

India has over 8 crore FASTag users and Paytm Payments Bank (PPBL) has around 30 per cent market share, PTI reported citing a senior NHAI official.

Earlier, IHMCL in a letter dated January 19, 2024 had barred Paytm Payments Bank from issuing fresh FASTags. On January 31, the Reserve Bank directed Paytm Payments Bank (PPBL) to stop accepting deposits or top-ups in any customer accounts, wallets, FASTTags and other instruments after February 29.

"No further deposits or credit transactions or top-ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, other than any interest, cashbacks, or refunds which may be credited anytime," the RBI said in a statement.