Karnataka Bank, the private sector lender, has launched its KBL FASTag, a pre-loaded payment instrument to facilitate seamless movement of vehicles at the toll plazas across India, in association with NPCI (National Payment Corporation of India) and Worldline, the FASTag processor.

Mahabaleshwara MS, Managing Director & CEO of the Bank said, "The FASTag facilitates the users with ease and convenience during transit through the toll plaza by saving time, fuel and money. Customers can procure FASTag through the bank's website or by approaching the nearby branch.While driving through a toll plaza, the applicable toll amount gets automatically debited through the sensors at the plaza and the driver gets instant SMS alerts for the toll transactions, and balance maintenance.

"KBL FASTag can be used across all the toll plazas throughout the country, which are registered in the National Electronic Toll Collection (NETC) program," he added.

Shares of the bank gained Rs 0.30, or 0.58%, to trade at  Rs 52.20.  The total volume of shares traded  was 38,560 at the BSE (11.55 a.m.,Thursday).