Paytm Fastag will stop after just two days, users should do this quickly

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Mr journalist News, New Delhi: Amidst the ongoing crisis of Paytm Payments Bank, the Reserve Bank on Friday issued the much awaited FAQ. In the FAQ, the Reserve Bank tried to answer the questions arising in the minds of people regarding various services of Paytm Payments Bank. Along with this, all the questions of crores of people using Paytm Fastag have also been answered.

Actually, Paytm Fastag is issued by Paytm Payments Bank, on which the Reserve Bank has taken action last month. Taking action on January 31, the Reserve Bank had said that money cannot be added to Paytm Payments Bank or Wallet after February 29. Since Paytm works by linking to Fastag wallet, there was a ban on recharging it after February 29. 

The deadline for ban on crediting money or recharging Fastag (adding money to wallet) in Paytm Payments Bank was extended from 29th February to 15th March. This means that Paytm Fastag users 
 will be able to use their Fastag in the same manner till March 15 i.e. the day after tomorrow.

You will not be able to do these things after March 15. 

According to the instructions of RBI, Paytm Fastag customers will no longer be able to use Fastag after March 15. They will neither be able to use Fastag nor will they be able to recharge it. Due to which customers may have to face a lot of problems.
Some customers are also thinking of transferring their Paytm Fastag balance to someone else, but it is not possible to do so. 

Refund will be done like this. 

Some people whose money is in Fastag want to know how to get refund from Paytm's Fastag, in such a situation the company says that users will have to contact their bank (in this case Paytm Payments Bank). First of all they have to close their old Paytm Fastag. After that they can request a refund from the bank.

Switch will have to be done in any case.

Earlier, Indian Highways Management Company (IHMCL), the electronic tolling unit of National Highway Authority of India (NHAI), had also shared an important update. 

IHMCL has released the list of 32 banks from where users can buy Fastag for themselves. The name of Paytm Payments Bank is not included in the list of banks providing Fastag. This makes it clear that users using Paytm Fastag will eventually have to switch their provider bank.


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