Business: The State Bank of India (SBI) has launched a new design for its FASTag, aimed at reducing commuter travel time and addressing toll fee discrepancies. "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," said a press release. 

What is SBI FASTag?

SBI FASTag uses Radio Frequency Identification (RFID) technology to facilitate seamless toll payments directly from a prepaid or savings account linked to the tag. Affixed to the vehicle’s windscreen, the tag enables drivers to pass through toll plazas without stopping for cash transactions. It can be obtained from authorized tag issuers, and if linked to a prepaid account, it requires regular recharges or top-ups.

SBI has specified that the redesigned FASTag is exclusively intended for Vehicle Class 4, which includes jeeps, cars, and vans. The updated design is intended to enhance vehicle recognition and expedite the toll collection process, thereby reducing travel time for commuters. Available since August 30, the new tags aim to ensure accurate identification of vehicles, allowing toll staff to quickly address any issues with incorrectly classified vehicles. This initiative is expected to streamline toll plaza operations and improve overall efficiency in toll fee collection.

Who can use the new SBI FASTag? 

The new FASTag design is specifically intended for Vehicle Class 4, which includes cars, jeeps, and vans. This targeted update aims to improve the accuracy of vehicle recognition and streamline the toll collection process for these specific types of vehicles.

How will commuters benefit from new FASTag? 

• Improved vehicle identification: The improved FASTag design enhances vehicle identification, enabling toll plaza operators to accurately recognise vehicles. This improvement helps ensure that vehicles are correctly classified, allowing for smoother toll transactions and reducing errors in toll fee collection.
• Reduced chargebacks: The new FASTag design helps reduce chargeback cases by preventing incorrect toll charges, which can lead to increased revenue for both the government and toll concessionaires. 
• Quicker toll payments: The streamlined toll collection process facilitates faster payments, significantly reducing wait times for commuters at toll plazas. This enhancement aims to make toll transactions more efficient and hassle-free for drivers.