The State Bank of India has launched a new FASTag design. It is to crack down on smaller vehicle tags being used on larger vehicles to reduce toll charges. Adding to it, this is specifically for Vehicle Class-4 (VC-04), which includes car, jeep, and van categories, reported Economic Times.
Reason Behind The New FASTag Design Launched
SBI said, “Currently, VC-04 tags are being used on higher-class vehicles like trucks, leading to a loss of income for toll plazas.”
According to the report, the new design will help in the easy identification of the class of vehicles. It will also help the toll staff take instant action against the wrong class of vehicles, according to the report. Additional offering introduced by SBI:
India’s first MTS card – the MTS RuPay NCMC prepaid card was also launched by SBI. The SBI wrote in its press release,
“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 even launched the OneView mobile application. It is designed to provide a comprehensive solution for managing SBI’s NCMC Prepaid Cards. It is easy for customers to top-up, track, and manage their cards from a single platform, according to SBI.
Mahesh Kumar Sharma is the DMD – Transaction Banking and New Initiatives at SBI. He stated that,
“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.”
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