If you’re still carrying PayTM FASTag then after couple of days, you’ll have to face problem running your vehicle on National and State highways so it is better to remove your PayTM FASTag and buy a new FASTag from the given NHAI authorized banks. Since PayTM Payments Bank Ltd. was removed by the NHAI from the list of authorized issuers of FASTag services, and as per the RBI recommendation, NHAI advised PayTM FASTag users to switch to other bank’s FASTag services by March 15th, 2024. You can find below the list of these NHAI authorized banks who are issuing FASTag for the registered vehicles in India.

FASTag is a reloadable, user-friendly tag that allows you to bypass the toll plaza without pausing to make a cash transaction and permits automatic toll deduction. Once the FASTag account is activated, you can stick it to your car’s windshield. It uses Radio-frequency Identification (RFID) technology.

Under the direction of the Indian Highways Management Company Limited (IHMCL) and the National Highways Authority of India (NHAI), the National Payments Corporation of India (NPCI) launched the National Electronic Toll Collection (NETC) initiative, which includes this program. The ideal option for a hassle-free journey on national highways is FASTag. At approximately 1000 toll plazas on both National and State roadways, it is currently in use, ensuring incredibly smooth toll transactions.

List of NHAI Authorized FASTag Issuing Banks

1. Airtel Payments Bank
2. AU Small Finance Bank
3. Axis Bank
4. Allahabad Bank
5. Bandhan Bank
6. Bank of Baroda
7. Bank of Maharashtra
8. Canara Bank
9. Central Bank of India
10. City Union Bank
11. Equitas Small Finance Bank
12. Cosmos Co-Op Bank
13. DNS Bank
14. Federal Bank
15. FINO Payments Bank
16. HDFC Bank
17. ICICI Bank
18. IDBI Bank
19. IDFC First Bank
20. Indusind Bank
21. Indian Bank
22. Indian Overseas Bank
23. Jammu and Kashmir Bank
24. Karnataka Bank
25. Karur Vysya Bank
26. Kotak Mahindra Bank
27. LIVQUICK Technology (India) Pvt. Ltd. 
28. Nagpur Nagarik Sahakari Bank
29. Punjab Maharashtra Co-Op Bank
30. Punjab National Bank
31. Saraswat Co-operative Bank
32. South Indian Bank
33. State Bank of India
34. Syndicate Bank
35. Jalgaon Peoples Co-Op Bank
36. Thrissur District Co-Op Bank (Kerela Bank)
37. UCO Bank
38. Union Bank of India
39. Yes Bank Ltd

Documents Required for New FASTag

If you are applying for a new FASTag from any of the above banks, then these minimum documents are required to upload (list of documents may vary from bank to bank) along with the application form.

1. Vehicle Registration Certificate
2. Passport size photo of the vehicle owner
3. KYC documents for ID and Address Proof, you can submit anyone from Aadhaar card, Driving Licence, PAN Card or Passport

All the required documents for new FASTag should belong to the owner of the vehicle.

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Nokia 5.1 Plus, HMD Global has come up with its latest contender in the race of the best phone under INR 11,000 and yesterday it launched Nokia 5.1 Plus, to take on rivals like Xiaomi’s Redmi 6 Pro, Realme 2 and the Honor 9N at a price tag of INR 10,999 exclusively purchased through Flipkart and Nokia online store.

Pre-orders of the phone started and the phone will be available to purchase from October 1.

It comes with a single variant a 3 GB of RAM, 32 GB of internal storage and expandable up to 400 GB.

Launch offers on this smartphone include instant cashback of INR 1,800 and 240 GB complimentary data on recharges of INR 199, INR 249, and INR 448 for Airtel customers.

Nokia 5.1 Plus Specifications

1. 1. Features a 5.86-inch HD+ display with 2.5D curved glass and a resolution of 1520×720 at the front
   2. 2.5D curvature front and back glass
   3. Powered by an octa-core MediaTek Helio P60 SoC with four Cortex-A73 cores clocked at 1.8GHz and four Cortex-A53 cores clocked at 1.8GHz
   4. Coupled with 3 GB of RAM and 32 GB of internal storage that is expandable to 400 GB
   5. 3,060 mAh battery
   6. Charging: 5V/2A fast charging
   7. 13MP+5MP artificial intelligence assisted dual camera setup with f/2.0 aperture, LED flash and PDAF for back
   8. 8MP shooter coupled with an f/2.2 aperture for front
   9. 2 microphones, Single speaker, AMP+
   10. 4G VoLTE, Wi-Fi 802.11ac, Bluetooth v4.2, GPS/ A-GPS, USB Type-C (v2.0), and a 3.5mm headphone jack
   11. Nokia 5.1 Plus comes with Android Oreo, three years of monthly security updates and two years of upgrades to help keep you secure
   12. Free, unlimited high-quality photo storage with Google Photos
   13. Colors: Gloss Black, Gloss White, Midnight Gloss Blue
   14. Ambient light sensor, Proximity sensor, Accelerometer, Gyroscope, Fingerprint Sensor

1. In the box, phone along with 5V/2A charger, USB Type-C cable, Headset, Quick guide, SIM door key

Nokia 5.1 Plus is all about the details. Its high-gloss body creates a polished look, while the protective CNC-machined metal camera bezel lends a bold finish. And thanks to the curved edges and the 2.5D shaped glass, the Nokia 5.1 Plus is simply a pleasure to hold.

Android One offers a clean interface with the latest features at your service.

Earlier in April, 2018, Nokia’s HMD Global announced to make cellular components in India.

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Chinese smartphone maker Xiaomi has already launched Redmi Y2 in an event held in Delhi, India. The two variants of the smartphone are going to start selling in India starting from the 12th of June exclusively in Amazon India and Mi Online Store India.

ICICI bank cards are offering Rs. 500 instant discount as well as Airtel offering Rs. 1800 instant cashback and up to 240 GB of data absolutely free.

Mi Y2 Price in India

1. Rs. 9,999 for the 32GB storage variant, 3 GB RAM
2. Rs. 12,999 for the 64GB storage variant, 4 GB RAM

Mi Y2 Specifications, Features

• Display – 5.99-inch IPS LCD with HD resolution
• Primary Camera – 12MP + 5MP, phase-detection auto focus, dual-tone dual-LED flash, Full HD video recording
• Secondary Camera – 16MP, LED flash, HDR, Full HD video recording
• Processor – Octa-core Qualcomm Snapdragon 625
• RAM – Available in 3GB and 4GB option
• Storage – Available in 32GB and 64GB option
• Operating System – Android 8.1 Oreo, MIUI 9.5 customization
• Battery – 3080mAh
• Connectivity – Dual-SIM, 4G VoLTE, Wi-Fi a/b/g/n, Bluetooth v4.2, Infrared port, GPS, 3.5mm audio jack, microUSB port
• Security – Fingerprint scanner, face unlock

Xiaomi’s Redmi Y2 comes with 5.99-inch 1440 x 720 HD+ resolution display with an 18:9 aspect ratio. It is an IPS LCD screen. The performance of the smartphone will come with from the 14nm Qualcomm Snapdragon 625 SoC.

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Apple Watch Series 3 comes with a built-in LTE and GPS is available in Indian market and can be purchased from the country’s two most prominent telecom operators – Reliance Jio and Airtel. Both regular and Nike+ variants of the Apple smartwatches comes with cellular connectivity which allows users to use as a standalone device for making voice calls and sending text messages both.

It comes with Siri integration and standalone notifications support which means it can be used as an alternative to the iPhone.

Apple Watch Series 3 LTE Cellular Price in India

1. The 38mm size version of the Apple Watch is priced at Rs 39,080, while the 42mm variant will cost Rs 41,120
2. Apple Watch Nike+ (LTE+GPS) will start at Rs 39,130, and the 42mm variant will cost Rs 41,120
3. It comes with ceramic case will cost Rs 118,030 for the 32mm variant, while the 42mm size variant is priced at Rs 122,090

The smartwatches come with a virtual or e-SIM that mirrors the phone number you use on your iPhone. Apple Watch uses antenna designs for LTE connectivity. Airtel and Reliance Jio customers will not be charged for the services if they are on the company’s postpaid plan/Airtel MyPlan/Infinity Plan and Reliance Jio Network respectively.

When customers pair the Series 3 Cellular to their iPhone, they will be prompted to setup a cellular service and guided through a few simple steps.

Apple Watch Series 3 Cellular Specifications

1. The smartwatch runs on dual-core processor, an additional W2 processor helps deliver faster Bluetooth and wireless connectivity on Apple Watch Series 3 LTE.
2. LTE runs on the company’s WatchOS 4
3. WatchOS 4 brings native support for important applications such as Apple Music and Siri
4. Water-resistant with a rating of 50 meters under the ISO standard 22810:2010
5. Smartwatches can be paired with iPhone having iOS version 11.3 or above

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Reliance’s Jio Infocomm has now forayed into the banking business with a payments bank service and named it as Jio Payment Bank (Jio Payments Bank Limited), a joint venture between Reliance Industries and State Bank of India with a 70:30 per cent partnership between the two.

Reliance Industries Ltd (RIL) is one of the 11 applicants for setting up payments bank in August 2015. Jio received the licence to start operation in March 2017, according to media reports.

The 11 unit as Payment Banks who got license, under Section 22 (1) of the Banking Regulation Act, 1949 to carry on the business of payments bank in India, from RBI are-

• Aditya Birla Nuvo Limited
• Airtel M Commerce Services Limited
• Cholamandalam Distribution Services Limited
• Department of Posts
• Fino PayTech – Fino PayTech Limited
• National Securities Depository Limited
• Reliance Industries Limited (Jio Payment Bank)
• Shri Dilip Shantilal Shanghvi
• One97 Communications – PayTM Payment Bank
• Tech Mahindra Limited
• Vodafone m-Pesa Limited

What is a payments bank?

A payments bank is like any traditional bank but operating at a smaller scale. The only difference is that payments banks do not have any credit-providing service.

Telecom major Bharti Airtel was the first one to start payments bank services in India in November 2016. After a huge success during demonetization, PayTM also launched its payments bank services in May 2017.

FINO Payments Banks Limited started in June 2017. The Aditya Birla group’s Idea Payments Bank was started from February 22 this year. And now, Reliance JIO.

How are they different from traditional banks?

The Airtel payments banks offers the highest interest rate of 7.25% unlike the other traditional systems. PayTM payments bank offers an interest rate of 4 per cent on a savings account and 7 per cent on fixed deposits. Payments banks can accept deposits of up to Rs. 100,000 per account from individuals and small businesses.

Apart from the interest rates, payments banks offer zero balance accounts or no minimum balance accounts without any extra charge.

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As per the reports by Google (Alphabet Inc.) and Boston Consulting Group, India is headed for an exponential increase in digital payments methods and the digital payments industry in India becoming Asia’s third-largest economy. It is estimated that it will grow by 10 times to touch $500 billion by 2020 and contribute 15% of gross domestic product (GDP), the report predicted.

Introduction of smartphones, the entry of several non-banking institutions offering payment services, consumer readiness to adopt digital payments, progressive changes in the regulatory framework will power the trend, it said.

Also, the Digital India program is a flagship program of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. “Faceless, Paperless, Cashless” is one of professed role of Digital India.

As part of promoting cashless transactions and converting India into less-cash society, various modes of digital payments are available as below-

1. Banking Cards (Debit / Credit / Cash / Travel / Others)

Banking cards offer consumers more security, convenience, and control than any other payment method. The wide variety of cards available – including credit, debit and prepaid – offers enormous flexibility, as well. These cards provide 2 factor authentication for secure payments e.g secure PIN and OTP. RuPay, Visa, MasterCard are some of the example of card payment systems. Payment cards give people the power to purchase items in stores, on the Internet, through mail-order catalogues and over the telephone. They save both customers and merchants’ time and money, and thus enable them for ease of transaction.

2. Unstructured Supplementary Service Data (USSD)

The innovative payment service *99# works on Unstructured Supplementary Service Data (USSD) channel. This service allows mobile banking transactions using basic feature mobile phone, there is no need to have mobile internet data facility for using USSD based mobile banking. It is envisioned to provide financial deepening and inclusion of under banked society in the mainstream banking services.

*99# service has been launched to take the banking services to every common man across the country. Banking customers can avail this service by dialing *99#, a “Common number across all Telecom Service Providers (TSPs)” on their mobile phone and transact through an interactive menu displayed on the mobile screen. Key services offered under *99# service include, inter-bank account to account fund transfer, balance inquiry, mini statement besides host of other services. *99# service is currently offered by 51 leading banks & all GSM service providers and can be accessed in 12 different languages including Hindi & English as on 30.11.2016 (Source: NPCI). *99# service is a unique inter-operable direct to consumer service that brings together the diverse ecosystem partners such as Banks & TSPs (Telecom Service Providers).

3. Aadhaar Enabled Payment System (AePS)

AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM) through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar authentication.

4. Unified Payments Interface (UPI)

Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience. Each Bank provides its own UPI App for Android, Windows and iOS mobile platform(s) such as Axis Pay, SBI Pay, PhonePe App, Google Tez App, BHIM UPI App, Bonus App – PNB UPI.

5. Mobile Wallets Or E-Wallets

A mobile wallet or E-Wallet is a way to carry cash in digital format. You can link your credit card or debit card information in mobile device to mobile wallet application or you can transfer money online to mobile wallet. Instead of using your physical plastic card to make purchases, you can pay with your smartphone, tablet, or smart watch. An individual’s account is required to be linked to the digital wallet to load money in it. Most banks have their e-wallets and some private companies and various startups have also launched E-Wallets in India. e.g. PayTM, Freecharge, Mobikwik, Oxigen, mRuppee, Airtel Money, Jio Money, SBI Buddy, itz Cash, Citrus Pay, Vodafone M-Pesa, Axis Bank Lime, ICICI Pockets, SpeedPay etc . are digital payment methods.

6. Banks Pre-Paid Cards

Prepaid debit cards, sometimes referred to as bank prepaid cards, are credit instruments that banks issue that give people an easy and adaptable way to manage their finances. Prepaid cards are independent of bank accounts, in contrast to conventional debit or credit cards that are connected to checking or credit accounts. Rather, they preload money onto the card, which they then use for a variety of payments up to the available balance.

7. Point Of Sale

A point of sale (PoS) is the place where sales are made. On a macro level, a PoS may be a mall, a market or a city. On a micro level, retailers consider a PoS to be the area where a customer completes a transaction, such as a checkout counter. It is also known as a point of purchase.

8. Internet Banking

Internet banking, also known as online banking, e-banking or virtual banking, is an electronic payment system/digital payment methods that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution’s website.

9. Mobile Banking

Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct different types of financial transactions remotely using a mobile device such as a mobile phone or tablet. It uses software, usually called an app, provided by the banks or financial institution for the purpose. Each Bank provides its own mobile banking App for Android, Windows and iOS mobile platform(s) which is one of the most popular digital payment methods now a days. 

10. Micro ATMs

Micro ATM meant to be a device that is used by a million Business Correspondents (BC) to deliver basic banking services. The platform will enable Business Correspondents (who could be a local kirana shop owner and will act as ‘micro ATM’) to conduct instant transactions.

The micro platform will enable function through low cost devices (micro ATMs) that will be connected to banks across the country. This would enable a person to instantly deposit or withdraw funds regardless of the bank associated with a particular BC. This device will be based on a mobile phone connection and would be made available at every BC. Customers would just have to get their identity authenticated and withdraw or put money into their bank accounts. This money will come from the cash drawer of the BC. Essentially, BCs will act as bank for the customers and all they need to do is verify the authenticity of customer using customers’ UID. The basic transaction types, to be supported by micro ATM, are Deposit, Withdrawal, Fund transfer and Balance inquiry.

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