SBI Introduces New FASTag Design That Will Bring Down Travel Time On Highways

State Bank of India (SBI) has introduced a latest design for its FASTag that will bring down travel time for travelers. According to a press release issued on August 30, 2024, "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."

Who Will Be Able To Use SBI New FASTag?
SBI stated that its latest FASTag design has been introduced for Vehicle Class-4 that will include jeep, van, car etc. The PSU lender said, ""New FASTag design is launched for Vehicle Class-4(Car, Jeep, Van) which will help toll plaza operators to identify wrong issuance comfortably. Currently, VC 4 tags are being affixed on higher class of vehicles (trucks, etc.) which leads to loss of income for toll plaza/concessionaires," according to a report published in ET Wealth Online. The FASTag has been available since August 30, 2024, added the PSU bank.

How can this new design of SBI FASTag help?
According to the PSU bank, the latest design of the SBI FASTag will make it possible easy identification of the vehicles class and assist staff at tolls take swift action against incorrect class of vehicle. As per the ET report, "additionally, it will help the ecosystem in reducing chargeback cases for wrong issuance and increasing the income for the government by recovering the correct toll fee. This new design will be easily identifiable and toll staff will instantly take action against wrong-class vehicles. It will also build a habit among customers to purchase the correct category of FASTag to avoid hassle," added SBI.

Earlier, National Payments Corporation of India (NPCI) decided to bring into effect new guidelines for FASTag users beginning from August 1, 2024 with a focus on Know Your Customer (KYC) requirements. FASTag KYC check was launched to boost the efficiency of the electronic toll collection system and offer hassle-free movement at toll plazas.

Beginning from August 1, companies providing FASTag services will have to complete the KYC for all FASTags issued between 3-5 years ago and it needs to be done by October 31, 2024. It implies that FASTag users must ensure that their KYC is updated within this time frame to avoid any insolvencies or discontinuation in services.
You also need to replace FASTags older than 5-years.

Users have to link their vehicle registration number and chassis number with their FASTag. Meanwhile, if you are a new vehicle owner, you have to update your FASTag with the vehicle's registration number within 90 days of purchase.
FASTag providers must also verify their databases. In order to improve security and identification, FASTag users will have to upload clear, high-quality photos of the vehicle's front and side.

It has become mandatory now to link each FASTag to a mobile number in order to ensure hassle-free communication and timely updates.

The deadline for the aforementioned updates is October 31, 2024. It is crucial to complete all the KYC requirements before the deadline to avoid any issues that may lead to disruption in services.