SBI Unveils New FASTag Design to Cut Down Highway Travel Time; Check Details
SBI’s Latest FASTag Design Set to Improve Toll Collection and Reduce Delays
The State Bank of India (SBI) has rolled out a redesigned FASTag specifically aimed at preventing the misuse of tags meant for smaller vehicles on larger ones. This initiative targets Vehicle Class-4 (VC-04), which covers cars, jeeps, and vans, addressing a prevalent issue where these tags were often used on larger vehicles such as trucks. This misuse has led to financial losses at toll plazas, prompting SBI to take corrective measures.
The new FASTag design enhances vehicle identification, allowing toll staff to detect and address incorrect usage immediately. This improvement is expected to curtail revenue losses and improve efficiency in toll collection, ultimately reducing travel time for commuters across India.
In addition to the FASTag update, SBI has also introduced the MTS RuPay NCMC prepaid card. According to the bank, this card is crafted to offer a smooth offline payment solution across a range of NCMC-enabled transit systems, such as metro rails, buses, ferries, tolls, and parking facilities. SBI’s press release states, “The MTS RuPay NCMC prepaid card is designed to offer a seamless, offline payment solution for all NCMC-enabled transit projects, including metro rails, buses, ferries, tolls, and parking.”
SBI has also unveiled the OneView mobile application, which simplifies card management for users. Through this app, customers can easily top-up, track, and manage their cards from a single platform. As Mahesh Kumar Sharma, DMD – Transaction Banking and New Initiatives at SBI, puts it, “The Nation First MTS Card, issued without the need for KYC verification, along with the OneView app, streamlines card management, making it easier for users to top-up without the need to visit metro or bus counters.”
SBI’s chairman, Challa Sreenivasulu Setty, emphasizes the bank’s commitment to digital innovation, stating, “The introduction of the Nation First MTS Card, the OneView Mobile Application, and the redesigned SBI FASTag highlights SBI’s leadership in digital payment solutions and our dedication to improving the public transportation experience.”
These initiatives reflect SBI’s dedication to improving the ease, security, and efficiency of digital payments in India.
