New Delhi, State-owned National Highways Authority of India (NHAI) is likely to extend 'One Vehicle, One FASTag' initiative compliance deadline to March-end, in view of the problems being faced by Paytm FASTag users, a senior official said. NHAI had earlier proposed to implement 'One Vehicle, One FASTag' initiative from March 1.
"In view of the Patym crisis, the FASTAg users may be given more time to shift to one vehicle-one FASTag norm," the official told PTI on condition of anonymity.
To enhance the efficiency of the electronic toll collection system and provide seamless movement at toll plazas, the NHAI has taken the 'One Vehicle, One FASTag' initiative that aims to discourage the use of single FASTag for multiple vehicles or linking multiple FASTags to a particular vehicle.
Earlier this month, the Reserve Bank of India (RBI) had advised customers as well as merchants of Paytm Payments Bank Ltd (PPBL) to shift their accounts to other banks by March 15.
The RBI also said withdrawal or utilisation of balances by PPBL customers from their accounts, including saving bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards, will be permitted without any restrictions, up to their available balance even beyond March 15.
On FASTags, the RBI's FAQs said one can continue to use them to pay toll up to the available balance.
"However, no further funding or top-ups will be allowed in the FASTags issued by Paytm Payments Bank after March 15, 2024," it had said.
With a penetration rate of around 98 per cent and over 8 crore users, FASTag has revolutionised the electronic toll collection system in the country.
FASTag is an electronic toll collection system in India, operated by the NHAI. It employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid or savings account linked to it or directly toll owner.
Source Name : Economic Times