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    Can Paytm FASTag users port their accounts to other banks?


    Finance Outlook India Team | Friday, 16 February 2024

    Paytm FASTag users should note that the National Highway Authority of India (NHAI) has not included Paytm Payments Bank in its latest list of 30 authorized banks for the FASTag service. The department said that due to regulatory actions against the company, it had decided to drop the Paytm Payments Bank.

    "Travel hassle-free with FASTag! Buy your FASTag today from below authorized banks," Indian Highways Management Company (IHMCL), the electronic tolling arm of National Highways Authority of India (NHAI), said on its official X (formerly Twitter).

    The updated list by NHAI now includes banks such as 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, Equitas Small Finance Bank, and Federal Bank.

    Other banks featured in the list are 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 Nagarik Sahakari Bank, Punjab National Bank, Saraswat Bank, State Bank of India, Thrissur District Cooperative Bank, UCO Bank, Union Bank of India, and Yes Bank.

    FASTag is a device utilizing Radio Frequency Identification (RFID) technology for toll payments while the vehicle is in motion.



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