According to recent buzz, starting March 1st, Paytm FASTag faces restrictions, prohibiting further transactions and deposits as per RBI directives.
RBI instructs Paytm Payments Bank (PPBL) to cease deposits, top-ups, and transactions in customer accounts from March 1.
The RBI has taken action against Paytm's banking operations, but digital payments linked to other banks can still be used.
Post February 29th, no further deposits or transactions are allowed in customer accounts, wallets, FASTags, etc. except interest or refunds.
FASTag is a electronic toll collection system for four-wheeler vehicles in India, using RFID technology for toll payments.
Customers can use existing Paytm FASTag balances; loading more money onto FASTags is not permitted after February 29.
Despite restrictions, customers can still use Paytm for digital payments as long as accounts are linked to external banks.
If you want to deactivate, contact customer support through the app providing necessary details for prompt assistance in disabling the service.