The State Bank of India, the country’s largest lender, launched the ‘Nation First Transit Card’ at the Global Fintech Fest 2023. RuPay NCMC Prepaid Card, a recently launched card, seeks to give users with a hassle-free commuting experience by enabling simple digital fare payments across numerous forms of transportation such as metro, buses, water ferries, and parking. Individuals can also use this card to undertake retail and e-commerce purchases.
In 2019, SBI began NCMC projects with transport operators. SBI successfully introduced the “City1 Card,” “Nagpur Metro MAHA Card,” “MUMBAI1 Card,” “GoSmart Card,” and “Singara Chennai Card” as part of these NCMC projects in Noida Metro, Nagpur Metro, MMRDA Metro Lines 2A & 7, Kanpur Metro, and Chennai Metro, respectively.
SBI is also implementing an NCMC-based ticketing solution in MMRC Metro Line 3 and Agra Metro, which is nearing completion and will be available to the public in the near future.
“At SBI, we are constantly striving to make banking and everyday life simpler for our customers,” said Dinesh Kumar Khara, Chairman of State Bank of India. The Nation First Transit Card, which is powered by RuPay and National Common Mobility Card (NCMC) technology, is designed to revolutionize commuting and is in line with the national goal of “One Nation, One Card.” We are pleased to create a card that not only makes our client’s life easier but also helps the progress of our country.”
The State Bank of India is the country’s largest mortgage lender. The bank’s housing loan portfolio has surpassed Rs 6.53 lakh crore. As of June 2023, the bank has more than Rs 45.31 lakh crore in deposits, a CASA ratio of 42.88 percent, and advances of more than Rs 33 lakh crore.