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State Bank of India has launched a card for cashless drive through toll plazas for its customers here.
The product, SBI Fastag, is a card that works on Radio Frequency Identification (RFID) technology. Money can be loaded on the card.
It is affixed on the windscreen of the vehicle and enables one to drive through toll plazas without stopping for cash transactions by allowing auto debit of toll amount from the card balance.
While launching the Fastag, Neeraj Vyas, Deputy Managing Director and Chief Operating Officer, SBI, said the facility is currently operational at about 350 toll plazas across national highways.
SBI Hyderabad circle has so far issued 6,300 Fastags. The system is interoperable and the same Fastag can be used across all toll plazas under the national electronic toll collection programme, according to Hardyal Prasad, Chief General Manager, SBI, Telangana Circle.
The benefits of Fastag include 7.5 per cent cash-back for all transactions up to March 31, 2018, easy recharge, top-up through authorised agencies, and customer care facility.
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