NHAI removed Paytm Payments Bank: The banks listed by NHAI for Fastag services include Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Cosmos Bank, Equitias Small Finance Bank and Federal Bank.
NHAI removed Paytm Payments Bank: National Highways Authority of India (NHAI) has removed Paytm Payments Bank Limited (PPBL) from the list of 30 authorized banks providing Fastag service. This decision has come after the action of RBI. The company is facing regulatory action for violation of rules.
NHAI’s decision has forced crores of users to think that they should now recharge their Fastag through some other bank. Earlier people used to recharge Fastag through Paytm app. However, now they will have to find some other option.
The banks listed by NHAI for Fastag services include Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Cosmos Bank. , Equitias are Small Finance Bank and Federal Bank.
You can also recharge through these banks
These include Fino Payments Bank, HDFC Bank, ICICI Bank, IDBI Bank, Idfc First Bank, Indian Bank, Induslnd Bank, J&K Bank, Karnataka Bank, Karur Vysya Bank, Kotak Mahindra Bank, Nagpur Nagrik Cooperative Bank, Punjab National Bank, Saraswat Bank, State Bank of India, Thrissur District Co-operative Bank, UCO Bank, Union Bank of India and Yes Bank are also included.
FASTag is operational at over 750 toll plazas including all National Highway toll plazas and over 100 state highway toll plazas across the country. NHAI Fastag is managed by the Highway Management Company of India Limited.
Why action on Paytm?
The controversy over Paytm came to light when the Reserve Bank of India (RBI) imposed restrictions on doing business on Paytm Payments Bank on January 31. It was told that no one can make new deposits in the bank after February 29. Apart from this, many services like Fastag were also banned.
RBI on January 31 directed the lender to stop accepting new customers as its customers with immediate effect. In a press release, RBI said that the nodal accounts of One97 Communications and Paytm Payments Services should be closed as soon as possible.
