Ever since FASTags became mandatory for all vehicles on Indian highways, navigating toll booths has become a breeze. But a recent shake-up in the list of authorized FASTag issuers might leave some car owners confused. Fear not, fellow drivers! This comprehensive guide will equip you with the latest information on FASTags, including the updated list of issuers and everything you need to know about getting your hands on one.
Why the Change? Paytm Out, New Players In
The National Highways Authority of India (NHAI) is responsible for ensuring smooth FASTag implementation. Recently, Paytm Payments Bank Limited (PPBL) was removed from the list of authorized FASTag issuers due to non-compliance with regulations set by the Reserve Bank of India (RBI). Don’t worry, though! The good news is that NHAI has released a revised list with a bunch of new players joining the game.
Who Can Issue Your FASTag Now? Meet the New Gang!
The revised list boasts a total of 39 banks and NBFCs (Non-Banking Financial Companies) authorized to issue FASTags. This means you have a wider range of options to choose from when it comes to getting your FASTag. Here’s a breakdown of the current authorized issuers:
| Bank/NBFC, Airtel Payments Bank, Allahabad Bank, AU Small Finance Bank, Axis Bank Limited, Bandhan Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Central Bank of India, City Union Bank Limited, Cosmos Bank, Dombivali Nagari Sahakari Bank, Equitas Small Finance Bank, Federal Bank, Fino Payment Bank, HDFC Bank, ICICI Bank, IDBI Bank, IDFC First Bank, Indian Bank, Indian Overseas Bank, IndusInd Bank, Jammu & Kashmir Bank , Karnataka Bank, Karur Vysya Bank, Kotak Mahindra Bank , Livquick Technology Private Limited, Nagpur Nagarik Cooperative Bank Limited, Punjab Maharashtra Bank, Punjab National Bank, Saraswat Bank, South Indian Bank, State Bank of India, Syndicate Bank, The Jalgaon People’s Co-op Bank, Thrissur District Co-op Bank, UCO Bank , Union Bank of India, Yes Bank |
So, How Do You Get Your FASTag? Let’s Break it Down
The process of acquiring a FASTag is fairly simple. Here’s a step-by-step guide:
- Choose Your Issuer: Pick a bank or NBFC from the list above that suits your needs and convenience. Consider factors like your existing bank account or any special offers they might be providing on FASTags.
- Visit a Branch or Go Online: Most issuers allow you to get a FASTag at their physical branches or through their online banking platforms. Some might even offer FASTag issuance through mobile apps. Check the website of your chosen issuer for specific details.
- Submit KYC Documents: You’ll need to provide basic KYC (Know Your Customer) documents like your vehicle registration certificate (RC), ID proof, and address proof.
- Recharge and Get Rolling: Once your FASTag is activated, you’ll need to recharge it with sufficient funds to cover toll charges. Most issuers offer various recharge options, including online recharge, mobile wallets, and net banking.
Beyond the Basics: FASTag Benefits and FAQs
Benefits of Using FASTag:
- Faster Toll Booth Clearance: No more fumbling with cash or waiting in long queues. FASTags ensure seamless toll payments, saving you precious time on the road.
- Cashless Convenience: Enjoy the ease of automated toll deductions without worrying about carrying exact change.
- Fuel Savings: Reduced idling time at toll booths translates to better fuel efficiency, especially for frequent highway travelers.
- Online Recharge Options: Manage your FASTag account conveniently through online recharges, allowing you to top up your balance from anywhere.
- Paperless Receipts: Get electronic receipts for all your toll payments, simplifying expense tracking and record-keeping.
Frequently Asked Questions (FAQs) about FASTag:
- Is FASTag mandatory? Yes, FASTags are mandatory for all vehicles using national highways in India.
- What happens if I don’t have a FASTag? You’ll be charged a double toll fee if you don’t have a FASTag while using a FAST
