Soumya Prakash Pradhan

The Reserve Bank of India (RBI) has taken action against the digital payments and services app Paytm due to non-compliance issues.

The RBI instructed Paytm to cease accepting deposits, credit transactions, and top-ups for FASTags in customer accounts after February 29.

This deadline was later extended to March 15, citing "larger public interest."

Additionally, Paytm is restricted from offering several services, including wallets and FASTags.

Will Paytm FASTag be operational post-deadline?

Following the ban, existing Paytm FASTags will continue to function until the balance is depleted.

However, users will not be able to add funds to their FASTag accounts after the ban takes effect.

What necessitates the deactivation of my Paytm FASTag?

The National Highway Authority of India (NHAI) has also removed PayTM Payments Bank Ltd (PPBL) from its list of approved FASTag providers.

After depleting the balance in your Paytm FASTag account, you will need to deactivate it.

This is because the new rule stipulates only one FASTag per vehicle.

How can I disable my Paytm FASTag account?

To deactivate your Paytm FASTag, you will need to contact Paytm support. 

You can do this by navigating to the profile section in the Paytm app, selecting 'Help and Support,' then choosing 'Banking Services & Payments' and 'FASTag.'

From there, you can initiate a chat with customer support.

Alternatively, you can call 1800-120-4210 and provide your registered mobile number along with your Tag ID or Vehicle Registration Number (VRN).

What are the steps to activate a fresh FASTag?

Once you have deactivated your Paytm FASTag, you can purchase a new one from any of the 32 banks listed by NHAI or directly from the NHAI website.

To activate your new FASTag, download the 'My FASTag' app from the Google Play Store or Apple App Store.

Enter your vehicle registration details, and your new FASTag will be activated after completing the process.