- How many Authorised banks are there for FASTag by NHAI?
- List of FASTag-authorized banks.
- What is FASTag?
- What to do for FASTag with Paytm.
- NHAI on FASTag
NHAI’s decision to exclude Paytm from its list of authorized banks for FASTag services depicts the importance of regulatory compliance and consumer trust in ensuring the efficiency and reliability of toll payment mechanisms.
How many Authorised banks for FASTag by NHAI?
The National Highways Authority of India (NHAI) has removed Paytm Payments Bank Ltd. (PPBL) from its list of 30 authorized banks for FASTag services due to regulatory concerns, highlighting the necessity of compliance and dependability in toll services.
List of FASTag-authorized banks
NHAI’s updated list of authorized banks for FASTag services now includes prominent institutions such as Airtel Payments Bank, HDFC Bank, ICICI Bank, and the State Bank of India.
About Fastag
FASTag, employing Radio Frequency Identification (RFID) technology, enables seamless toll payments while vehicles are in motion, enhancing efficiency and reducing congestion at toll plazas.
What to do for FASTag with Paytm
NHAI advises commuters to obtain FASTags from authorized banks and stresses the importance of obtaining them from recognized institutions for hassle-free travel on national highways. Those using FASTags linked with Paytm are advised to surrender them and acquire new ones from an authorized bank.
NHAI on FASTag
- As FASTag adoption increases nationwide, regulatory compliance and consumer trust remain crucial. NHAI’s proactive approach to reassessing partnerships and ensuring adherence to regulatory standards sets a precedent for maintaining transparency, accountability, and reliability in service delivery.
- NHAI’s decision to remove Paytm from its list underscores the significance of regulatory compliance and consumer trust in ensuring the efficiency and reliability of toll payment mechanisms.