Paytm Fastag Deactivation Process: Paytm Fastag users will not be able to top up after Friday midnight. However, they can use their current balance for toll payment even after March 15.
Paytm Fastag Deactivation Process: According to the guidelines issued by the Reserve Bank of India (RBI) regarding restrictions on Paytm Payments Bank, Paytm Fastag users will not be able to top up after Friday midnight. However, they can use their current balance for toll payment even after March 15. Users who want to deactivate Paytm Payments Bank Fastag can deactivate it through the Paytm app.
For this, you will have to search by writing ‘Manage Fastag’ in the search menu of Paytm app. In the ‘Manage Fastag’ section, a list of all the vehicles linked to Paytm Payments Bank Fastag will appear. After that, people have to select ‘Close Fastag Option’ in the upper right part of the page. Then they have to select the vehicle for which they want to close Fastag.
As soon as you click on ‘Proceed’, a confirmation message will appear on the screen. Fastag will be closed within five-seven working days.
When will the security money be returned?
According to the company, the security deposit and minimum balance applicable for PPBL Fastag will be returned to the Paytm Payments Bank wallet after closure.
The good thing is that the National Payments Corporation of India (NPCI) on Friday allowed Paytm’s parent company One97 Communications Limited (OCL) to join the Unified Payments Interface (UPI) as a third-party application provider under the multi-bank model. Approved for.
Four banks (Axis Bank, HDFC Bank, State Bank of India, Yes Bank) will act as Payment System Provider (PSP) banks for OCL.
Meanwhile, the National Highway Authority of India has advised Paytm Fastag users to purchase a new Fastag issued by any other bank before March 15.
