Paytm Wallet Deposit Closure: Ensure Adequate Balance for FASTag Functionality and Discover Porting Procedure

As per RBI guidelines, starting from March 16th, you will no longer be able to deposit money into your Paytm wallet. In this scenario, if you possess a Paytm FASTag, you will need to make necessary arrangements for its replacement. 

Failure to do so might result in double toll charges. According to regulations, if payment via FASTag is not made, double toll charges will be applicable.

Moreover, if you have added any funds to your Paytm wallet before March 15th, you can still utilize them even after March 15th. Paytm registers the highest usage of FASTags among all providers in India.

Obtain New FASTags from Banks or PhonePe

The National Highways Authority of India (NHAI) advises Paytm FASTag users to procure a new FASTag from any authorized bank before March 15th. 

NHAI has released an advisory recommending Paytm FASTag users to purchase a new FASTag from any authorized bank before March 15th. NHAI has also excluded Paytm Payments Bank (PPBL) from the list of banks that issue FASTags.

Now, this list includes 39 banks and non-banking financial companies (NBFCs).

You can order FASTags from these banks or through the PhonePe app.

  • Open PhonePe and tap on “Buy FASTag” here.
  • Enter your PAN, vehicle registration number, and mobile number, then tap on “Proceed”.
  • On the next page, enter your vehicle registration number and model number, then tap on “Proceed”.
  • Enter your delivery address and tap on “Proceed”.
  • After this, you will be prompted to make the payment.

Documents Required for FASTag Update

To update your FASTag, you will need the following documents:

  • Vehicle Registration Certificate
  • ID Proof
  • Address Proof
  • For ID and Address Proof: Passport, Voter ID Card, Aadhaar Card, Driving License, or PAN Card.

Akash Shrivastav

My name is Akash Shrivastav, and I am a Blogger. I have 8 years of experience in blogging for Finance, Business, Investment, Stock Market, Cryptocurreny and more. Through my writing, I aim to provide readers with insightful and informative content.