Airbag light: It indicates that the airbag is not operational due to some problem with the electrical system.
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This light may appear on the dashboard with the initials "SRS" (Supplemental Restraint System). It comes on when the control unit detects some problem in the electrical system of the airbag and disables it as a preventive measure. If that happens, a specialist should take care of it.
Mines on from the crash sensors (located behind lower radiator support) are faulty. From what I've seen it's fairly common for them to corrode- Dorman makes replacements.