RBI curbs: Paytm Payments Bank excluded from authorized FASTag issuers
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The Indian Highways Management Company (IHMCL), a subsidiary of the National Highways Authority of India (NHAI), has announced a list of 32 authorized banks for issuing new FASTags. This list excludes the Paytm Payments Bank because the Reserve Bank of India (RBI) has prohibited it from providing services after February 29, rendering Paytm FASTags inoperative from March. IHMCL has advised users to purchase FASTags from an authorized bank to avoid any inconvenience.