Deadline
The Reserve Bank of India (RBI) has extended the deadline for Paytm Payments Bank from February 29 to March 15. Therefore, you can use your Paytm Fastag until that date, after which it might become inactive if not permitted by RBI. Note that after March 15, 2024 you will not be able to top-up or recharge your FASTag issued by Paytm Payments Bank.
Why do you have to deactivate it? ‘
You must deactivate your Paytm Fastag due to the ‘One Vehicle, One Fastag’ rule, which mandates a single Fastag per vehicle. If you have funds remaining in your Paytm accounts, you can request refunds before the deadline.
Moreover, RBI’s FAQs on Paytm Payment Banks underline this, stating that Fastags are not interchangeable. Therefore, customers must close their PPBL accounts and obtain a refund, acquiring a new Fastag from a different bank.
How to deactivate a Paytm Fastag account
Through the Paytm app: Go to Profile > Help & Support > Banking Services & Payments > Fastag > “Chat with us” to request deactivation.
Through the Fastag Paytm Portal: Log in and provide your Fastag number, registered mobile number, and necessary details for verification. Then, under “Help & Support,” select “I Want to Close My Fastag Profile.”How to purchase a new Fastag
To purchase a new Fastag online, users can choose from the 32 banks listed on NHAI’s website or order directly from NHAI. They can also use the “My FASTag” app to buy from Amazon or Flipkart, following the provided links and activating the Fastag accordingly. For banks, users can visit their official website provided by NHAI.
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