- NHAI said that due to the ongoing PayTm crisis, the FASTAg users may be given more time to shift to One vehicle, One FASTag norm.
National Highways Authority of India (NHAI) is planning to extend deadline for its ‘One Vehicle, One FASTag’ initiative. The deadline, which was earlier supposed to end on Friday (March 1), is likely to get extended by another four weeks. The extension of the deadline could be announced to allow PayTm FASTag users resolve issues arising of the crisis faced by the digital payment platform after RBI crackdown.
NHAI’s ‘One Vehicle, One FASTag’ initiative aims to stop usage of one FASTag for multiple vehicles or vice versa. The initiative was announced earlier this month along with a deadline to complete the KYC process which will help lock single FASTag to one vehicle only.
NHAI officials said that PayTm FASTag users, who are currently in process to review its status amid the ongoing crisis, are facing problems to go ahead with the KYC process. According to one of the officials quoted by PTI, “In view of the PayTm crisis, the FASTAg users may be given more time to shift to one vehicle-one FASTag norm.” The RBI had ordered to stop deposits in PayTm Payments Bank, which handles FASTag and wallet on the digital payment platform, from March 15. The PayTm FASTag users have been advised to shift their accounts to other banks before the deadline ends.
Also Read : How to deactivate PayTm FASTag, apply for fresh one – a step by step guide
Those using PayTm FASTags can continue to enjoy services even after March 15 deadline, according to the RBI order. However, it said that the PayTm FASTags will be in use as long as there is sufficient balance in the account. “No further funding or top-ups will be allowed in the FASTags issued by PayTm Payments Bank after March 15, 2024,” the central bank had said.
PayTm FASTags are the largest in terms of users among all FASTags issued so far. There are around eight crore FASTag users using the facility which helps in electronic toll collection system that started back in February 15, 2021. Operated by NHAI, FASTag uses Radio Frequency Identification (RFID) technology to deduct toll charges directly from the FASTag account linked to the user’s bank account.
First Published Date: 29 Feb 2024, 10:27 AM IST