The State Bank of India (SBI), India’s largest lender, has unveiled the ‘Nation First Transit Card,’ also known as the RuPay NCMC Prepaid Card, during the Global Fintech Fest 2023.
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SBI Card Enhances its Super-Premium ‘AURUM’ Card with Exciting Features.
This innovative card aims to simplify the commuting experience by enabling seamless digital fare payments across various modes of transportation, including metros, buses, water ferries, and parking. Additionally, the card can be used for retail and e-commerce transactions.
SBI initiated NCMC programs with transit operators in 2019, leading to the successful launch of various cards like the “City1 Card,” “Nagpur Metro MAHA Card,” “MUMBAI1 Card,” “GoSmart Card,” and “Singara Chennai Card.” The bank is also actively working on implementing NCMC-based ticketing solutions for MMRC Metro Line 3 and Agra Metro, which will soon be available to the public.
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Dinesh Kumar Khara, Chairman of State Bank of India, expressed, “At SBI, we continually strive to simplify banking and enhance the daily lives of our customers. The Nation First Transit Card, powered by RuPay and National Common Mobility Card (NCMC) technology, is poised to revolutionize the commuting experience and aligns with the national vision of ‘One Nation One Card.’ We take pride in introducing a card that not only enhances our customers’ lives but also contributes to our country’s growth.”
As of June 2023, SBI’s deposit base exceeds Rs 45.31 lakh crore, with a CASA ratio of 42.88%, and advances exceeding Rs 33 lakh crore. These figures solidify SBI’s position as India’s largest mortgage lender, with a home loan portfolio exceeding Rs 6.53 lakh crore.
