SBI launches new design of FASTag that will reduce travel time in highways; check details
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.»
SBI new FASTag: Who can use it?
SBI has clarified to ET Wealth Online that this new FASTag design is being launched for Vehicle Class-4 i.e. Car, Jeep, Van, etc. The public sector bank mentions, «New FASTag design is launched for Vehicle Class-4(Car, Jeep, Van) which will help toll plaza operators to identify wrong issuance comfortably. Currently, VC 4 tags are being affixed on higher class of vehicles (trucks, etc.) which leads to loss of income for toll plaza/concessionaires.» SBI said that this FASTag is available since August 30, 2024.
How can this new design of SBI FASTag help?
According to SBI, this new design of SBI FASTag will enable easy identification of the class of vehicles and help the toll staff take instant action against the wrong class of vehicles. «Additionally, it will help the ecosystem in reducing chargeback cases for wrong issuance and increasing the income for the government by recovering the correct toll fee. This new design will be easily identifiable and toll staff will instantly take action against wrong-class vehicles. It will also build a habit among customers to purchase the correct category of FASTag to avoid hassle,» said SBI.
