The National Highway Authority of India (NHAI) has recently revised its list of approved banks and non-banking financial companies (NBFCs) authorized to distribute FASTags, which are essential for electronic toll collection. This update follows the Reserve Bank of India’s (RBI) directive to shut down Paytm Payments Bank Ltd (PPBL) due to regulatory non-compliance and supervisory issues, resulting in its exclusion from the authorized list.
The updated list now encompasses 39 banks and NBFCs permitted to dispense FASTags to vehicle owners. Among these reputable institutions are Airtel Payments Bank, Axis Bank Ltd, Bandhan Bank, Bank of Baroda,
