The National Highway Authority of India (NHAI) has taken Paytm Payments Bank Ltd (PPBL) off its list of authorised banks for FASTag service due to regulatory issues.
The NHAI lists 32 payment banks, scheduled commercial and small finance banks, that are authorised for FASTag services, which the Indian Highways Management Company Ltd. manages This includes prominent entities such as Airtel Payments Bank, Axis Bank, HDFC Bank, ICICI Bank, and State Bank of India, among others.
What are FASTag services?
FASTag is a device that utilises Radio Frequency Identification (RFID) technology to enable direct toll payments while the vehicle is in motion. The RFID chip is affixed on the vehicle’s windscreen, facilitating toll payments linked to the user’s account.
