Will Paytm FASTag stop working: If you possess a Paytm FASTag, you should be aware of the following. Following the receipt of an external auditor’s compliance validation report and a system audit report, the Reserve Bank of India (RBI) instructed Paytm Payments Bank (PPBL) to cease taking deposits or top-ups in any client accounts, including wallets, FASTags, and other instruments, after February 29.
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What is FASTag?
Regulations require that all of your four-wheeler vehicles have a FASTag displayed on their windshields. The FASTag is an electronic toll-collecting system run by the NHAI that employs radio frequency identification (RFID) technology to process payments using prepaid wallets at toll booths.
Will Paytm FASTag stop working after February 29?
RBI permitted Paytm FASTag users to use their remaining balances, but from of March 1, they will not be able to add more funds to their accounts.
You can keep using the sums that are now on your Paytm FASTag, according to Paytm. We’ll keep you informed as we develop practical solutions to guarantee a flawless client experience.
Process of Paytm FasTag Closure:
- Open Paytm app and then search by writing Fastag in the search box.
- After the search results appear, tap on Manage Fastag.
- After this you will see the car number, scroll down and tap on Help and Support.
- Click on Need Help option and then tap on Query Related to updating fastag profile.
- After tapping on i want to close my fastag option vrn number will appear, tap on the number and then tap on YES.
- After clicking on Yes, tap on CLOSE Fastag and select the vehicle number again.
- After choosing the vehicle number, you will have to give the reason why you want to stop Fastag.
- You tap on i am switching to other bank fastag and tap on Proceed.
- After this you have to tap on Close Fastag.
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