NPCI notified regarding the Issuance of New FASTags to the Paytm Payments Bank Limited (PPBL) Consumers

Mar 18, 2024 | by TeamLease RegTech Legal Research Team

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Industry Specific ComplianceThe National Payments Corporation of India (NPCI) on March 15, 2024, issued the notification regarding the Issuance of New FASTags to the Paytm Payments Bank Limited (PPBL) Consumers.

The following has been stated namely: -

• The following actions are to be taken by the Issuers namely: - 

1. Issuers shall make necessary changes to facilitate FASTag issuance even to the vehicles of PPBL consumers which are in Hotlist

2. Issuers shall ensure adequate inventory of FASTags at all the Toll Plazas and other Point of Sale locations

3. Issuers shall ensure all the channels, ground force, and call centres are sufficiently staffed and ready to serve PPBL consumers looking for the replacement of FASTag

The above circular will be applicable from March 15, 2024.

[Notification No. NPCI/2023-24/NETC/004]

 


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