Discover the sensational transition as NHAI bids farewell to Paytm for toll collection services! Get ready for a surprising twist as the nation’s highways undergo a major shake-up.
NHAI Switches Toll Collection Partners
The National Highways Authority of India (NHAI) is embarking on a transition journey, moving toll collection responsibilities from Paytm Payments Bank to other banking partners. This strategic move stems from recent regulatory adjustments affecting Paytm Payments Bank, showcasing NHAI’s commitment to ensuring a smooth transition for all stakeholders.
The apex highway authority’s decision to hand over toll collection to nine esteemed banks underscores its dedication to minimizing disruptions for commuters and toll station operators alike. With around 14% of the nation’s daily highway toll collection now under transition, the highways authority is prioritizing the needs of travelers and toll operators to maintain uninterrupted services.
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Putting People on the Road at Ease
In a bid to keep highway users informed and empowered, the authority issued an advisory urging travelers to acquire FASTags from authorized banks. This gesture not only facilitates compliance but also ensures a hassle-free journey for all road users. By providing a list of approved banks for FASTag procurement, NHAI is simplifying the process and enhancing convenience.
The Reserve Bank of India’s (RBI) directives on Paytm Payments Bank have prompted the highway authority to act swiftly, recognizing the complexities of regulatory compliance in the financial landscape. As PPBL addresses regulatory concerns, the Highways Department remains vigilant, prioritizing both regulatory adherence and public service excellence.
Fintech’s Response and Nodal Account Shift
In the face of regulatory challenges, PPBL has demonstrated resilience and adaptability by transitioning its nodal account to Axis Bank. This move, aimed at ensuring seamless merchant settlements, reflects a commitment to customer satisfaction amidst regulatory uncertainties.
The highway authority’s transition from PPBL to other banking partners is not merely a procedural change but a testament to its human-centric approach. By prioritizing the needs of commuters, toll operators, and banking partners, the highway authority exemplifies a commitment to service excellence even in the face of regulatory challenges. As the journey continues, the Apex Highways Department remains steadfast in its mission to ensure smooth travels and seamless toll collection experiences for all.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and the National Highways Authority of India have contributed to the above report
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