+
SBI launches FASTag aimed to reduce travel time on highways
ROADS & HIGHWAYS

SBI launches FASTag aimed to reduce travel time on highways

State Bank of India (SBI) has reportedly introduced a new design for its FASTag, intended to reduce travel time for commuters. In a press release dated 30th August 2024, it was mentioned that the bank has launched an updated design for the SBI FASTag specifically in the Vehicle Class (VC-04) category. This advanced FASTag design is said to enhance vehicle identification and toll collection efficiency, ultimately aimed at reducing travel time for millions of commuters across India.

For those unfamiliar, the SBI FASTag is a device that uses Radio Frequency Identification (RFID) technology to facilitate toll payments directly from a prepaid or savings account linked to it. The tag is affixed to the vehicle?s windscreen, allowing drivers to pass through toll plazas without needing to stop for cash transactions. It was noted that the tag can be purchased from designated issuers, and if linked to a prepaid account, users must recharge or top up the tag as needed.

SBI has clarified that the new FASTag design is specifically intended for Vehicle Class 4, which includes cars, jeeps, and vans. The updated design is expected to improve vehicle identification and streamline the toll collection process, with the ultimate goal of reducing travel time for commuters.

Several benefits have been associated with the new FASTag design: improved vehicle identification, which facilitates easier and more accurate recognition by toll plaza operators; a reduction in chargebacks by preventing incorrect toll charges, thereby potentially increasing revenue for both the government and toll concessionaires; and faster toll payments, which could lead to shorter wait times for commuters.

In addition to the new FASTag design, SBI has also introduced several products, including the MTS RuPay NCMC prepaid card, which offers a seamless, offline payment solution for various transit projects such as metro rails, buses, ferries, tolls, and parking. Furthermore, the OneView mobile application has been launched, providing a comprehensive platform for managing SBI?s NCMC prepaid cards, making it easier for customers to top-up, track, and manage their cards.

State Bank of India (SBI) has reportedly introduced a new design for its FASTag, intended to reduce travel time for commuters. In a press release dated 30th August 2024, it was mentioned that the bank has launched an updated design for the SBI FASTag specifically in the Vehicle Class (VC-04) category. This advanced FASTag design is said to enhance vehicle identification and toll collection efficiency, ultimately aimed at reducing travel time for millions of commuters across India. For those unfamiliar, the SBI FASTag is a device that uses Radio Frequency Identification (RFID) technology to facilitate toll payments directly from a prepaid or savings account linked to it. The tag is affixed to the vehicle?s windscreen, allowing drivers to pass through toll plazas without needing to stop for cash transactions. It was noted that the tag can be purchased from designated issuers, and if linked to a prepaid account, users must recharge or top up the tag as needed. SBI has clarified that the new FASTag design is specifically intended for Vehicle Class 4, which includes cars, jeeps, and vans. The updated design is expected to improve vehicle identification and streamline the toll collection process, with the ultimate goal of reducing travel time for commuters. Several benefits have been associated with the new FASTag design: improved vehicle identification, which facilitates easier and more accurate recognition by toll plaza operators; a reduction in chargebacks by preventing incorrect toll charges, thereby potentially increasing revenue for both the government and toll concessionaires; and faster toll payments, which could lead to shorter wait times for commuters. In addition to the new FASTag design, SBI has also introduced several products, including the MTS RuPay NCMC prepaid card, which offers a seamless, offline payment solution for various transit projects such as metro rails, buses, ferries, tolls, and parking. Furthermore, the OneView mobile application has been launched, providing a comprehensive platform for managing SBI?s NCMC prepaid cards, making it easier for customers to top-up, track, and manage their cards.

Next Story
Infrastructure Urban

Digital First: Bridging the Skilled Talent Gap in India’s Construction Sector

India stands at a defining juncture in its economic journey as it accelerates toward becoming a US$7 trillion economy by 2030. India’s construction sector, encompassing infrastructure and real estate development will play a pivotal role in its economic transformation. Expansion in developments such as the national highways, smart cities, airports, metro networks, logistics hubs, housing, etc. underscores the physical expression of India’s development ambition. The construction sector is already the second-largest contributor to India’s GDP, accounting for nearly 18 per cent of total..

Next Story
Infrastructure Transport

Titagarh Rail to Raise Rs 2 billion via Preferential Allotment to Promoters

Titagarh Rail Systems has announced a proposal to raise approximately Rs 2 billion through a preferential issue of 21,16,402 convertible warrants to members of its Promoter Group. The board of directors approved the move at its meeting held on July 9, 2025, subject to shareholder and regulatory approvals. The warrants, priced at Rs 945 each, will be allotted to Mrs Rashmi Chowdhary and Mr Prithish Chowdhary in line with Chapter V of SEBI’s ICDR Regulations. Each warrant is convertible into one equity share of ₹2 face value within 18 months from the date of allotment.   ..

Next Story
Real Estate

Hindware Strengthens Eastern Footprint with New Brand Store in Kolkata

Bathware major Hindware has expanded its retail footprint in West Bengal with the launch of a new state-of-the-art brand store in Ichapore, Kolkata. This marks the company’s fourth brand store in the city and 30th in the state, underlining its strategic focus on the eastern market. The newly launched store, operated by Tirupati Sales Corporation, showcases the entire spectrum of Hindware’s bathware offerings, including sanitaryware, faucets, showers, basins, and products from its premium lines — Queo and the Hindware Italian Collection. It is aimed at providing an immersive experien..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?