Paytm Payments Bank Barred from Issuing Fresh FASTags, Know Why

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The move comes after the Indian Highways Management Company found that the entity was not complying with the parameters prescribed in the service-level agreement

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Paytm Payments Bank has been barred from issuing fresh FASTags, according to a TOI report. It comes after the Indian Highways Management Company Ltd (IHMCL), the arm of NHAI dealing with matters related to tolls, found that the entity was not complying with the parameters prescribed in the service-level agreement (SLA).

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Paytm has been banned from taking up any new toll plazas that are part of the National Electronic Toll Collection, covering the whole national highways network, according to the TOI report.

IHMCL, in a letter to the bank last Friday, has also sought a response from Paytm Payments Bank on why the company should not be penalised for non-compliance.

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After Paytm, other entities are also on the radar and may face similar action, according to the report citing NHAI officials.