The State Bank of India, the largest lender in the country, has introduced the ‘Nation First Transit Card’ during the Global Fintech Fest 2023. This newly unveiled card, RuPay NCMC Prepaid Card, aims to provide a hassle-free commuting experience for customers by enabling effortless digital fare payments across various modes of transportation such as metro, buses, water ferries, and parking. Furthermore, individuals can utilise this card for conducting retail and e-commerce transactions.
Read More: Thomas Cook India Partners With National Payments Corporation Of India To Launch RuPay Forex Card
SBI entered NCMC programs with transit operators in 2019. As a part of these NCMC programs, SBI successfully launched the “City1 Card”, “Nagpur Metro MAHA Card”, “MUMBAI1 Card”, “GoSmart Card” and “Singara Chennai Card” in Noida Metro, Nagpur Metro, MMRDA Metro Lines 2A & 7, Kanpur Metro and Chennai Metro respectively.
SBI is also implementing NCMC based ticketing solution in MMRC Metro Line 3 and Agra Metro, which is in the advanced stage of execution and will be available to the public very soon.
Read More: How To Subscribe To The Second Tranche Of Sovereign Gold Bonds 2023?
Dinesh Kumar Khara, Chairman, State Bank of India, stated, “At SBI, we are constantly strive to make banking and everyday life simpler for our customers. The Nation First Transit Card powered by RuPay and National Common Mobility Card (NCMC) technology, is set to revolutionize the commuting experience and is aligned with the national vision of “One Nation One Card”. We are proud to introduce a card that not only eases the lives of our customers but also contributes to the growth of our country.”
Read More: Bandhan Bank Allots Equity Shares To Employees Under ESOP
State Bank of India is the largest mortgage lender in the country. The home loan portfolio of the bank has crossed Rs 6.53 lakh crore. As of June 2023, the bank has a deposit base of over Rs 45.31 lakh crore with CASA ratio of 42.88 per cent and advances of more than Rs 33 lakh crore.
