ONE FASTAG
After proposing no tolls for poor highways, Nitin Gadkari asks officials to work on passes for cars
Union Road Transport Minister Nitin Gadkari has proposed the introduction of monthly or annual passes for cars on the National Highway network to simplify toll collection and reduce commuter hassles. This suggestion comes alongside his call for tolls to be waived on poorly maintained highways, emphasizing the need for quality service before collecting tolls.
Paytm Bank slows down in Fastag lane; q-comm in soup over food safety
Happy Friday! Banks are gaining ground in the toll payments space as Paytm Payments Bank’s market share continues to plummet. This and more in today’s Morning Dispatch.
Paytm lays off employees as part of restructuring, facilitates outplacement support
Paytm's sales employee headcount in March 2024 quarter dropped by about 3,500 to 36,521 personnel on a quarter-on-quarter basis, mainly due the impact of the Reserve Bank of India's ban on services of Paytm Payments Bank.
FASTags, NCMC payments to become easier: You don't have to add money manually for each recharge
New recurring payments rule: The Reserve Bank of India (RBI) announced including recurring payments for Fastag, National Common Mobility Card (NCMC), etc. with auto-replenishment facility under the e-mandate framework.
Delhi-Meerut and Peripheral Expressways toll rates to increase from today; Check revised rates here
Starting Monday, toll rates on the Delhi-Meerut Expressway (DME) and Eastern Peripheral Expressway (EPE) will increase by 5%. After the revision, four-wheelers will pay between Rs 45 and Rs 160, and heavy vehicles will be charged between Rs 40 and Rs 250, depending on the distance traveled. Currently, the toll is Rs 2.19 per km on the 135 km-long expressway, with no toll for traffic between Delhi and Ghaziabad.
Adani One superapp clocked gross sales of Rs 750 crore in FY24
According to the 2023-24 annual report of the Ahmedabad-based conglomerate's flagship company Adani Enterprises, the user base of the superapp grew to 30 million at the end of the financial year. The company aims to expand the superapp's customer base to 400 million by 2030. Adani group is also in discussions with Paytm for potentially acquiring a stake in the fintech firm.
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Paytm shares jump another 5% despite denying talks with Adani
Paytm shares rose 5% amid reports of deal talks between Paytm CEO and billionaire. Shares hit upper circuit limit despite company's denial of discussions.
Adani's fintech play: Gautam Adani likely in talks with Vijay Shekhar Sharma to acquire stake in Paytm's parent co
Gautam Adani, chairman of the Adani Group, is reportedly looking into acquiring a stake in One97 Communications, the parent company of Paytm, according to sources cited by The Times of India. Paytm's founder and CEO, Vijay Shekhar Sharma, met with Adani in Ahmedabad to discuss the details of the potential deal.
Adani effect! Paytm shares jump 5% on deal talks between Vijay Shekhar Sharma and Gautam Adani
Shares of Paytm surged 5% as Gautam Adani considers investing in the company. Paytm founder met Adani to discuss a potential deal. Adani is also seeking investments from West Asian funds for Paytm, facing challenges after RBI restrictions.
NHAI likely to extend FASTag KYC compliance deadline by one month: Sources
The National Highways Authority of India (NHAI) has extended the Know Your Customer (KYC) compliance deadline for FASTags, aiming to streamline electronic toll collection. NHAI introduces the 'One Vehicle, One FASTag' initiative to boost efficiency, discouraging the use of a single FASTag for multiple vehicles. NHAI emphasizes adherence to the initiative to ensure seamless toll operations and convenience for users. Users can update their FASTag KYC through the official website or their respective bank portals.
FASTag, NPS, credit card, debit card, insurance rule changes: Major money changes from April 1
Money rule changes in April: Let's see major financial changes and new norms that will come into effect from April 1, 2024. Changes include insurance rules, FASTag, NPS, credit cards, debit cards and more
One Vehicle, One FASTag implemented; 9 important things all FASTag users should know
FASTag KYC: "NHAI has taken this initiative after the recent reports of multiple FASTags being issued for a particular vehicle and FASTags being issued without KYC in violation of RBI’s mandate," stated a PIB release.
'One Vehicle, One FASTag' norm comes into force
The National Highways Authority of India (NHAI) has implemented the 'One Vehicle, One FASTag' rule to deter the use of a single FASTag for multiple vehicles. Effective from April 1, users with multiple FASTags for one vehicle won't be able to use them all. FASTag ensures seamless toll payments using RFID technology.
Is your Paytm FASTag account closed? How to check Paytm FASTag status
How to close Paytm FASTag: Paytm Payments Bank has been one of the largest issuers of the FASTag. It said that after March 15, 2024 no customer accounts, prepaid cards, Paytm Wallets, FASTags, NCMC cards, etc. will accept deposits, credit transactions, top-ups.
Paytm Payments Bank releases FAQs on steps to close Paytm FASTag, refund of FASTag balance & more
FAQs for Paytm FASTag users: To help users of Paytm FASTag, Paytm Payments Bank has issued a fresh set of FAQs. Here is what it states.
Many Paytm FASTag users facing issues closing account, complain on social media; are you able to close your Paytm FASTag?
Have closed your Paytm FASTag: Some Paytm FASTag users who have been facing difficulty closing their accounts have taken to social media to complain.
How to close Paytm FASTag: Here's why you need to close your Paytm Payments Bank FASTag before March 15
How to deactivate Paytm FASTag: After March 15, no further funding or top-ups will be allowed in the FASTags issued by Paytm Payments Bank. It is suggested that you close your Paytm Fastag (especially if you do not have any balance amount in the FASTag) and procure a new one from another authorized issuer as soon as possible. Here's why.
FASTag charges compared: HDFC Bank, ICICI Bank, SBI, Axis Bank, PNB, other top authorized issuers
FASTag charges: Here is a list of top FASTag issuers and the fees associated with FASTag, as per their websites on February 24, 2024. The security deposit amount considered is for cars, jeeps and others in the similar category.
How to buy new FASTag online
Buy FASTag Online: FASTag is an RFID technology device for toll payments. It enables automatic toll deduction for a hassle-free trip on national highways. Recharging options are available online.
FASTag KYC deadline over; steps to check if your FASTag is still active
FASTag KYC deadline: If your FASTag KYC is not complete there are chances that your FASTag has been deactivated or blacklisted. Note that a vehicle with a 'blacklisted FASTag is not allowed to pay toll using FASTag at the toll plaza.
NHAI gives one-month extension to FASTag users to comply with the KYC norms
The National Highways Authority of India (NHAI) has extended the compliance deadline for the 'One Vehicle, One FASTag' initiative to March-end, providing an additional month for FASTag users to complete know-your-customer (KYC) norms. The extension aims to address issues faced by Paytm FASTag users who are already grappling with getting new FASTags following RBI's announcement that they will become non-functional after March 15.
Paytm Fastag: Here's why Feb 29th probably won't be the last date to update your KYC details
The National Highways Authority of India (NHAI) is considering extending the deadline for the 'One Vehicle, One FASTag' initiative compliance to March-end, following issues faced by Paytm FASTag users. Initially set for February 29, the deadline extension would also apply to completing FASTag KYC. NHAI introduced the initiative to improve toll collection efficiency and discourage misuse. In a related development, the RBI advised Paytm Payments Bank Ltd customers to transfer their accounts by March 15 but assured no restrictions on withdrawals or fund utilization until balances are exhausted.
Feb 29 last date to update FASTag KYC; step-by-step guide on how to update FASTag KYC
FASTag KYC updation deadline: The NHAI has taken this action in response to recent reports of the issuance of numerous FASTags for a single vehicle and the issuance of FASTags without KYC, which is against RBI requirement. Here is how to update FASTag KYC.
NHAI likely to extend deadline for 'One Vehicle, One FASTag' initiative till March-end
NHAI is likely to extend the 'One Vehicle, One FASTag' compliance deadline due to the Patym crisis. RBI has advised PPBL customers to shift accounts by March 15, allowing withdrawal or utilization of balances.
Paytm loses out on Fastag; IT hiring slows amid increased scrutiny
The move is aimed at ensuring that millions of Paytm Fastag users do not face any hassle while using toll roads after the cut-off date, people aware of the matter told ET. The government is apprehensive of the inconvenience that will be caused to Paytm users, they said.
What is the last date to update FASTag KYC
After completing the KYC procedure, residents will be immediately connected to the One Vehicle, One FASTag initiative.
Last date to update FASTag KYC is extended to this date
The National Highways Authority of India (NHAI) launched the "One Vehicle, One FASTag" programme to improve the effectiveness of the Electronic Toll Collection system and facilitate smooth flow at the Toll Plazas.
FASTags with inadequate KYC to be deactivated after January 31, 2024: Here is how to update
Banks will deactivate or blacklist FASTags with a legitimate balance but inadequate KYC after January 31, 2024. Here is how to do KYC for FASTag.
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