GUWAHATI: The Reserve Bank of India (RBI) has instructed Paytm Payments Bank to wind down its operations, with a deadline extension granted until March 15. This directive follows the central bank's order in January, which barred Paytm Payments Bank from accepting new deposits in its accounts or wallets, effective from February 29.
Effective March 15, Paytm Payments Bank will halt all further deposits, credit transactions, top-ups, and related activities across customer accounts, prepaid instruments, wallets, FASTags, National Common Mobility Cards, and more, as per the RBI's announcement. Existing Paytm FASTags will remain functional for toll payments using the available balance; however, no additional top-ups will be permitted beyond March 15.
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To deactivate a Paytm FASTag, customers can follow two methods:
• Via Phone Call: Dial 1800-120-4210, provide the registered mobile number and Vehicle Registration Number (VRN) or Tag ID, and a Paytm customer support agent will confirm the closure of the FASTag.
• Through the Paytm App: Open the Paytm app, tap on the profile icon, select "Help & Support," navigate to "Banking Services & Payments" > "FASTag," click on "Chat with us," and request the executive to deactivate the account.
For those looking to purchase a new FASTag online, they can follow these steps:
• Download App: Download the "My FASTag" app from Google Play Store or Apple App Store and click on "Buy FASTag" to access the e-commerce link.
• Purchase: Buy the FASTag, and it will be delivered to the provided address.
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Additionally, to activate a new FASTag online, users can launch the "My FASTag" app, click on "Activate FASTag," select either Amazon or Flipkart, enter the FASTag ID or scan the QR code, input vehicle details, and the new FASTag will be activated. It's important to note that multiple FASTags for a single vehicle are prohibited, and only the latest FASTag linked to the vehicle will remain active, as per regulatory guidelines.
