)New Delhi: State Bank of India (SBI) has launched a new Fastag design to curb the use of smaller vehicle tags on larger vehicles to reduce toll charges. It is specifically for vehicle category-4 (VC-04), which includes car, jeep and van categories, reports Economic Times.
Why was the new Fastag design launched? According to ET, the new Fastag design was launched to overcome the problem of the use of VC-04 tags on high-class vehicles such as trucks. This practice is leading to a huge loss of revenue for toll plazas. SBI said that the redesigned tag will make it easier for toll employees to quickly identify the correct category of vehicle, allowing them to take immediate action against those using the wrong tag.
Other products launched by SBI SBI also launched India's first MTS card – MTS RuPay NCMC Prepaid Card. SBI wrote in its press release that the MTS RuPay NCMC Prepaid Card is designed to provide a seamless, offline payment solution for all NCMC-enabled transit projects including metro rail, bus, ferry, toll and parking.
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