3 Indian banks make it to top 50 by assets in Asia-Pacific region in 2023
In the list, State Bank of India is at the 20th position, HDFC Bank at 33 and ICICI Bank at 48th spot.
Weeks after the Reserve Bank of India’s curb against the Paytm Payments Bank, the Indian Highways Management Company Ltd (IHMCL) has advised highway users to buy FASTags from 32 authorised banks sans Paytm Payments Bank for hassle-free travel.
IHMCL, the toll collecting arm of state-owned NHAI, in a post on X, said for hassle-free travel, buy your FASTag from 32 authorised banks.
The 32 authorised banks include Airtel Payments Bank, Allahabad Bank, Bank of Baroda, HDFC Bank, ICICI Bank, IDBI Bank, Punjab National Bank, State Bank of India, and Yes Bank, among others.
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IHMCL has said it is encouraging FASTag users to complete the ‘Know Your Customer’ (KYC) process of their latest FASTag as per RBI guidelines.
With a penetration rate of around 98 per cent and over 8 crore users, FASTags, based on radio frequency identification (RFID) technology, allow users to pay highway toll charges directly from the linked bank accounts.
As per the recent reports, the RBI is mulling regulatory action on more fintech firms for KYC lapses.
Among those include a leading payments aggregator and a wallet service provider.
The heat is on fintech firms that operate in the unsecured loan segment and act as intermediaries between customers and lenders.
On January 31, the Reserve Bank directed Paytm Payments Bank (PPBL) to stop accepting deposits or top-ups in any customer accounts, wallets, FASTags and other instruments after February 29.
Any interest, cashbacks, or refunds may be credited back to customers anytime.
The direction followed persistent non-compliances and continued material supervisory concerns, the central bank had said in a statement.
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