State Bank of India (SBI) has launched a new design for its FASTag which aims to reduce the travel time for commuters. According to a press release dated August 30, 2024, “The bank has introduced a new design for SBI FASTag in the Vehicle Class (VC-04) category. The advanced FASTag design enhances vehicle identification and toll collection efficiency aimed at reducing travel time for millions of commuters in India.”
For those unaware, SBI FASTag is a device that employs Radio Frequency Identification (RFID) technology for making toll payments directly from the prepaid or savings account linked to it. It is affixed on the windscreen of your vehicle and enables you to drive through toll plazas, without stopping for cash transactions. The tag can be purchased from Tag issuers and if it is linked to the prepaid account, then you need to recharge/ top up the tag as per your requirement.
SBI has made it clear that the new FASTag design is specifically for Vehicle Class 4 (cars, jeeps, and vans). This updated design aims to improve vehicle identification and streamline the toll collection process, ultimately reducing travel time for commuters.
Who can use the new SBI FASTag
The new FASTag design is specifically intended for Vehicle Class 4 vehicles, which includes cars, jeeps, and vans.
How does the new FASTag design benefit commuters:
The new FASTag design offers several benefits:
Improved vehicle identification: The enhanced design makes it easier for toll plaza operators to accurately identify vehicles.Reduced chargebacks: By preventing incorrect toll charges, the new FASTag can help reduce chargeback cases and increase revenue for both the government and toll concessionaires.
Faster toll payments: The streamlined process can lead to quicker toll payments, reducing wait times for commuters.
What other products did SBI launch along with the new FASTag
SBI also introduced the following products: MTS RuPay NCMC prepaid card: This card provides a seamless, offline payment solution for various transit projects, including metro rails, buses, ferries, tolls, and parking.
OneView mobile application: This app offers a comprehensive platform for managing SBI’s NCMC prepaid cards, making it easier for customers to top-up, track, and manage their cards.
