After the Paytm ban, wondering how to get FASTag immediately for your next road trip? We give you the details for how to get an instant FASTag
FASTag has been a recent addition in our everyday lives, designed so Radio Frequency Identification technology is used to make toll payments as your car passes by a toll plaza, hands-free and quick. Paytm is one of India's most used FASTag providers, but the recent RBI Paytm ban has caused a rush among users to deactivate Paytm FASTag before March 15—when the Paytm Payments Bank is mandated to cease operations. How do you get FASTag immediately after deactivating Paytm’s services?
In this article, we guide you through both the online and offline procedures for instant FASTags.
Follow along.
Long story short, Paytm Payments Bank Ltd. (PPB) has had repeated run-ins with the RBI (Reserve Bank of India), and still, many regulatory compliance issues have persisted. The latest verdict is that the PPB has until March 15, 2024, to stop deposits, credit transactions, and even top-ups into customer accounts. Since the PPB provided FASTag to many of its clients, it will be in your best interests to deactivate Paytm FASTAg and purchase a new one.
Note that you can not transfer your Paytm FASTag balance to a new FASTag, as the feature is not available for this product. Further, the NHAI (National Highways Authority of India) has released the ‘One Vehicle, One FASTag’ policy, mandating that one vehicle can have only one FASTag. While one FASTag would not apply to multiple vehicles, one can not have multiple FASTags. This is why you must close your Paytm FASTag before you buy a new FASTag.