NHAI Revised Banks & NBFC List To Issue FASTags: Check New Authorized Entities Here

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New Delhi: The National Highway Authority of India (NHAI) has made changes to its list of banks and non-banking financial companies (NBFCs) authorized to issue FASTags. This move is prompted by the removal of Paytm Payments Bank Ltd (PPBL) following a directive from the Reserve Bank of India (RBI).

Reason

This decision comes after the RBI directed the closure of Paytm Payments Bank Ltd (PPBL) due to non-compliance and supervisory concerns. The RBI instructed PPBL to halt most banking services by February 29, with a deadline later extended to March 15, 2024. ()

Updated List Of Authorized Entities

The revised list now includes 39 entities authorized to issue FASTags. ()

Full List Of Authorized Entities

Notable names on the list include Airtel Payments Bank, Axis Bank Ltd, Bandhan Bank, Bank of Baroda, Canara Bank, HDFC Bank, ICICI Bank, IDFC First Bank, IndusInd Bank, Punjab National Bank, State Bank of India, and Yes Bank, among others.

Other Banks

Other banks and NBFCs on the list include Allahabad Bank, AU Small Finance Bank, Equitas Small Finance Bank, Federal Bank, Fino Payment Bank, Indian Bank, Indian Overseas Bank, UCO Bank, and others.