Paytm Shares Important Update For Its FASTag Users: "You Can Continue..."

The Reserve Bank of India has asked Paytm to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29.

A day after Reserve Bank of India (RBI) ordered Paytm Payments Bank (PPBL) to stop its popular mobile wallet business along with other activities, the company responded with a clarification about FASTag. In its order, the RBI had asked Paytm to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29. But in a statement, the company clarified that the RBI order does not impact user deposits in their savings accounts, wallets, FASTags, and NCMC accounts, and they can continue to use the existing balances. You can continue using the existing balances on your Paytm FASTag. We started our journey of working with other banks over the last two years, which we will now accelerate pic.twitter.com/clsDLVUD1N

Also Read | Curbs On Paytm Payments Bank: What Happens To Your Money Now

Paytm also posted a fact-check on X (formerly Twitter) where it denied that users' FASTag will stop working.