The National Highway Authority of India (NHAI) has taken Paytm Payments Bank Ltd (PPBL) off its roster of 30 authorized banks for FASTag services amidst ongoing regulatory scrutiny over alleged rule violations.
The updated list of banks approved by NHAI for FASTag services now includes Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank, Cosmos Bank, Equitas Small Finance Bank, and Federal Bank, among others.
FASTag is a technology-driven device utilizing Radio Frequency Identification (RFID) for seamless toll payments while vehicles are in motion. The FASTag chip, affixed on the vehicle’s windscreen, allows customers to make toll payments directly from their linked account. Presently, FASTag operates across more than 750 toll plazas nationwide, encompassing both national and state highways.
NHAI’s FASTag program is administered by the Indian Highways Management Company Ltd.
